Japan's main stock average slipped on Friday, succumbing to profit-taking after a seven-session rally, while investors pondered the impact of the
U.S. government shutdown on the world's largest economy.
The Nikkei 225 index in Japan ditched 24.97 points, or 0.2% to end the week at 14,561.54. On the week, the index gained 1.1%.
Hong Kong shares eked out gains on the week, thanks to a solid advance on Friday buoyed by China data and strength in the Macau casino sector after Sands China posted robust quarterly results.
Hong Kong’s Hang Seng Index spiked 245.22 points, or 1.1%, to 23,340.10, making for a gain on the week of 0.5%.
For the third quarter, Sands China reported a 62 percent surge from a year earlier for adjusted earnings before interest, tax and amortization expenses. Its shares ended 9% up at a record closing high.
Australian stocks rose in early Friday trading, extending gains from the previous session. Among the notable gainers, Newcrest Mining Ltd. jumped 5.2% after a more-than-3% surge in gold futures overnight, while uranium miner Paladin Energy Ltd. bounced off of recent weakness to soar 7.5%.
Shares of oil producer Santos Ltd. were flat after posting a drop in third-quarter output and placing its full-year production outlook at the low end of its previous guidance. Stock in Warrnambool Cheese & Butter Factory Co. was untraded as the dairy announced another takeover offer for 7.50 Australian dollars ($7.22 U.S.) a share in cash, beating two other standing bids for the company. The shares last closed at A$7.42
CHINA
While Chinese data out Friday showed the economy grew at its fastest clip of the year in the third quarter, more recent statistics for September suggested a mild slowdown is now underway.
Shanghai’s CSI 300 tacked on 12.72 points, or 0.5%, to 2,426.05
China’s gross domestic product was 7.8% higher in the July-September quarter compared to a year earlier, accelerating from the second quarter’s 7.5% increase, and a 7.7% rise in the first quarter, the National Bureau of Statistics reported.
In other markets;
Korea’s Kospi Index gained 11.79 points, or 0.6%, to 2,052.40
Taiwan’s Taiex Index picked up 66.51 points, or 0.8%, to 8,441.19
The Singapore Straits Times Index added 6.28 points, or 0.2%, to 3,192.90
In New Zealand, the Exchange 50 Gross Index shed 17.41 points, or 0.4%, to 4,758.59
In Australia, the S&P/ASX 200 improved 38.36 points, or 0.7%, to 5,321.47
