Major Asian stock markets closed little changed on Friday following a roller-coaster session that sent shares oscillating between positive and negative territory as investors grappled with the consequences of a more dovish U.S. Federal Reserve.
Japanese markets returned from holiday, as the Nikkei 225 nosed ahead 18.42 points, or 0.1%, to end the week at 21,627.31, as shares of index heavyweights Softbank Group improved 2.7%, and Fanuc jumped 1.4%
The Japanese yen traded at 110.75 against the U.S. dollar after touching highs below 110.5 in the previous session
In Hong Kong, the Hang Seng Index recovered 41.8 points, or 0.1%, to 29,113.36, with shares of Chinese tech giant Tencent rising 0.6% despite the company reporting its slowest annual profit growth in 13 years.
The moves in Tokyo came after government data showed Japan's annual core consumer inflation slowed in February, leaving its central bank in a bind.
The nationwide core consumer price index (CPI), which includes oil products but excludes volatile fresh food costs, rose 0.7% in February from a year earlier, government data showed on Friday, falling short of a median market forecast for a 0.8% gain.
The data revealed that the slowdown from January's 0.8% increase was due largely to a 1.3% drop in gasoline prices, which was the first year-on-year decline since November 2016.
The Bank of Japan has battled low inflation rates for years, with its target rate of 2% remaining ever elusive despite attempts to accelerate price growth.
Over in South Korea, markets closed marginally higher. Shares of tech heavyweight Samsung Electronics rose 1.5%, and chipmaker SK Hynix picked up 0.3%, maintaining their Thursday momentum. That followed an overnight jump in Micron shares stateside after the company signaled that a recovery in the memory chip sector may be coming later in the year.
Meanwhile, shares in Australia gained, with most of the sectors higher. The Australian dollar changed hands at $0.7113 U.S. after slipping from highs above $0.716 yesterday.
In other markets
The CSI 300 index dipped 3.09 points, or 0.1%, to 3,833.80
In Singapore, the Straits Times Index dropped 1.55 points, or 0.1%, to 3,212.10
Korea’s Kospi Index eked up 2.07 points, or 0.1%, to 2,186.95
In Taiwan, the Taiex Index gained 29.52 points, or 0.3%, to 10,639.07
In New Zealand, the NZX 50 moved higher 89.68 points, or 1%, to 9,550.99
In Australia, the ASX 200 strengthened 28.06 points, or 0.5%, to 6,195.23
