South Korean stocks fell and Japanese stocks were flat early Friday, as Tokyo was held back by a firmer yen, as investors focused on a flurry of earnings reports.
Japan’s Nikkei 225 regained 24.27 points, or 0.2%, to 14,429.26, after the yen strengthened slightly against the U.S. dollar overnight. The greenback lost 0.2% against the Japanese currency, and was steady on Friday, last trading at ¥102.33.
Hong Kong’s Hang Seng Index plummeted 339.27 points, or 1.5%, to 22,223.53.
At the end of a week shortened in a number of markets by the Easter holidays, the best performer was Australia which had gained 1.4% since the end of last week. Japanese stocks were down 0.9% week-to-date and the Shanghai Composite Index was 1.9% lower.
The small movements in Asia mirrored a quiet session in the U.S., where stocks on Wall Street ended the day mixed with small moves.
With no major headline news, investors were left digesting a broad range of earnings reports from across the region.
In Japan, shares in Japan Tobacco rose by 1.3% after the company reported that its revenue rose by 21.1% in the January to March quarter, which helped offset a corporate tax driven fall in its net profit.
Camera maker Canon Inc. lost 0.2% after a strong run up over the last month, after solid demand for printers and copiers led to better-than-expected first quarter results.
In Seoul, Hyundai Motor Company lost 3.5% after the firm reported a third consecutive quarterly decline in profit margins.
In other markets;
The Shanghai CSI 300 slid 22.65 points, or 1%, to 2,167.83.
Taiwan’s Taiex Index fell 171.53 points, or 1.9%, to 8.774.12
Singapore’s Straits Times Index faded 16.36 points, or 0.5%, to 3,267.57
Korea’s Kospi Index sank 26.68 points, or 1.3%, to 1,971.66
Markets in Australia and New Zealand were off for holidays
