Asian stocks edged lower on Friday, at the end of a broadly positive week for the region, as investors waited for the U.S. labour report later in the day.
Japan’s Nikkei 225 eased 8.11 points, or 0.1%, to 15,063.77, as the U.S. dollar was steady against the yen--last at ¥103.93
The Hang Seng Index in Hong Kong dumped 55 points, or 0.2%, to 22,510.08, as Beijing’s recently announced stimulus package continued to lift Hong Kong-listed Chinese companies.
In corporate news, building and construction materials supplier Boral Ltd. rose 0.8% in Sydney and building product company CSR added 0.4%, after the two companies proposed to combine their brick operations on the East Coast of Australia in a joint venture.
Markets were cautious ahead of the main monthly health check on the world’s largest economy. The U.S. Labor Department’s March jobs report is expected to show an increase in hiring after a winter slowdown, with economists surveyed by The Wall Street Journal forecasting that the economy added 200,000 jobs last month, up from 175,000 in February.
Friday’s mild declines came at the end of week that has been broadly positive for Asian stocks, especially in Japan where the Nikkei is up 2.7% on the week. The market has benefited from a yen that has traded at its lowest levels since January, helping offset the impact of Tuesday’s increase in the local consumption tax.
Elsewhere, Hong Kong’s Hang Seng Index was up 2% since last Friday and the S&P/ASX 200 added 0.7% over the same period.
CHINA
The Shanghai Shenzhen CSI 300 was higher by 20.46 points, or 1%, to 2,185.47
In February and March, a total of $3.5 billion U.S. flowed out of China equity funds, according to EPFR data, as investors worried about rising risks of an economic slowdown and fears of corporate defaults.
In other markets;
Markets in Taiwan were shuttered for a holiday
Singapore’s Straits Times Index slipped 7.34 points, or 0.2%, to 3,212.72
Korea’s Kospi Index inched down 5.61 points, or 0.3%, to 1,988.09
The New Zealand Exchange 50 index gained 1.53 points to 5,123.90
In Australia, the S&P/ASX 200 was up 12.94 points, or 0.2%, to 5,422.83
