Asian markets were mostly lower Friday ahead of the U.S. labour report, though Japan managed to make a gain at the end of a negative week for the Nikkei.
In Tokyo, the Nikkei 225 index regained 122.37 points, or 0.8%, to end the week at 15,299.86
Hong Kong’s Hang Seng Index took on 30.53 points, or 0.1%, to 23,743.10
Another sign of caution could be seen in the strengthening of the yen. The U.S. dollar lost a total of 0.6% Thursday to reverse a trend of weakness in the Japanese currency over the last few weeks that provided a boost to the local stock market.
On Friday, however, the dollar regained ground against the yen, and was last at ¥102.11 compared with ¥101.79 late Thursday in New York. This helped the Nikkei gain.
Japan was one of the worst performers in Asia for the week. The Nikkei Average was 2.3% lower since last Friday as the market came down from a rally that propelled it 9.3% higher in November.
The Australian stock market also weakened, with the S&P/ASX 200 down 2.5% for the week as a flurry of upcoming initial public offerings weighed on market sentiment.
Nine Entertainment Co. fell 3.4% in its trading debut in Sydney. The free-to-air broadcaster priced its IPO earlier this week at 2.05 Australian dollars ($1.86 U.S.) a share, becoming Australia’s largest IPO since 2010, when coal-hauler QR National, a railway network now known as Aurizon Holdings, listed.
CHINA
Stocks in both Hong Kong and Shanghai were also cautious before China starts releasing its monthly batch of data. Trade data will be released over the weekend and inflation numbers will follow on Monday.
Shanghai’s CSI 300 index slid 15.91 points, or 0.6%, to 2,452.29
In other markets;
Korea’s Kospi Index dipped 4.36 points, or 0.2%, to 1,980.41
Taiwan’s Taiex Index shed 7.82 points, or 0.1%, to 8,367.72
The Singapore Straits Times Index fell 10.21 points, or 0.3%, to 3,114.17
In New Zealand, the NZX 50 dropped 6.43 points, or 0.1%, to 4,713.52
In Australia, the S&P/ASX 200 was lower by 11.94 points, or 0.2%, to 5,186.02
