Most Asian markets declined on Friday as downbeat Chinese manufacturing data sparked worries about the global growth outlook, with Japanese stocks also hit as a strong yen pressured exporters.
Japan’s Nikkei 225 Index fell 102.48 points, or 1.2%, to end the week at 8,440.25
The Hang Seng Index in Hong Kong docked 71.18 points, or 0.4%, to 18,559.34
The stage was set for losses in Asia after U.S. stocks capped their worst month in several years on Thursday. Disappointing jobs and business activity data and ongoing worries over Europe kept investors sidelined ahead of the closely-watched non-farm payroll report due Friday.
With the U.S. dollar below the ¥79 level and the euro under ¥97 in Asian trading hours on Friday, Japanese exporters were under pressure.
Firms declining Friday in Tokyo included Sony Corp., down 3.5%, while Sharp Corp. slumped 4.9% and Advantest Corp. dropped 5.6%.
Mazda Motor Corp traded down 4%. The Nikkei reported that the car maker plans to trim 250 sales jobs in Europe and the U.S.
Other automakers also lost ground on Friday, with Nissan Motor Corp. down 3% and Isuzu Motors Ltd. losing 5%.
Technology firm Renesas Electronics Corp. plunged another 10% on Friday, taking quarter-to-date losses to just over 60%.
Stocks in the key shipping sector dragged in Seoul. Samsung Engineering Co. dropped 4.3% and Hyundai Heavy Industries Co. lost 2.6%.
Miners lost ground in Australia, as index heavyweight BHP Billiton Ltd. fell 0.8% and rival Rio Tinto Ltd. lost 2.3%.
Aluminum Corp. of China Ltd. sank 4.8% in Hong Kong.
However, property firms gaining ground in Hong Kong included Wharf (Holdings) Ltd. up 0.3%, and New World Development Co. Ltd., up 2%.
Amid global market anxiety, reports Friday said motor-sport franchise Formula One Group will delay its $2.5-billion U.S. initial public offering in Singapore.
Those reports appeared one day after London-based jeweler Graff Diamonds Corp. pulled plans for a $1-billion U.S. Hong Kong IPO, citing poor market conditions.
CHINA
Shanghai’s CSI 300 Composite Index squeaked higher by 0.96 points to 2,633.
The losses came after China’s official version of the manufacturing Purchasing Managers’ Index (PMI) declined to 50.4 in May, from 53.3 in April, well below forecasts. A separate PMI reading from HSBC fell to 48.4 in May, compared to April’s 49.3.
Hopes of more stimuli to spur growth in China have underpinned strength in the Shanghai Composite this week, with the index on track to post a 1.5% gain for the week.
China’s Zijin Mining Group Co. rose 2.9% after it unveiled an off-market takeover offer for Norton Gold Fields Ltd. that values the Australian company at $207 million. Norton Gold Field shares jumped 11.9%.
In other markets;
Korea’s Kospi Index shaved off 8.96 points, or 0.5%, to 1,834.51
Singapore's Straits Times Index jettisoned 26.83 points, or 1%, to 2,745.17
Taiwan’s Taiex Index dropped 195.41 points, or 2.7%, to 7,106.09
New Zealand’s NXZ Index dipped 36.29 points, or 1%, to 3,452.04
Australia’s ASX Index deducted 12.38 points, or 0.3%, to 4,063.88
