Stocks in Asia were mixed on Thursday, while China’s October industrial production data showed it missed expectations.
In Japan, the Nikkei 225 plummeted 178.32 points, or 0.8%, to 23,141.55, s shares of Familymart dropped 2.7%
Shares of Z Holdings — previously named Yahoo Japan — skyrocketed 16.93% after the firm said Thursday it was in discussions to merge with Line, which also saw its stock surge 15.38%.
The Japanese yen, often seen as a safe-haven currency in times of market uncertainty, traded at 108.68 against the dollar after strengthening from levels above 108.9 in the previous session.
In Hong Kong, the Hang Seng Index ditched 247.77 points, or 0.9%, to 26,323.69. Shares of Chinese tech juggernaut Tencent dropped 2.4% after the heavyweight announced on Wednesday a 13% year-on-year drop in profit.
Japan’s economic growth touched a one-year low in the third quarter. GDP grew 0.2% on an annualized rate in the third quarter, well below a median market forecast of a 0.8% rise.
Korean markets gained, with shares of Line parent company Naver jumping 13.6%.
Markets down under gained ground, as Australia’s unemployment rate released on Thursday showed it edged up to 5.3%, an increase from a dip in September. Net new jobs was down 19,000 in October — the largest decline since late 2016
The Australian dollar changed hands at $0.6795 after seeing an earlier high of $0.6841.
CHINA
In Shanghai, the CSI 300 recovered 5.88 points, or 0.2%, to 3,905.86
Chinese industrial production data for October grew 4.7% year-on-year, compared against expectations of a 5.4% growth.
Developments in U.S.-China trade continue to be monitored, with a reported impasse being hit between the two economic powerhouses as they seek to finalize a limited trade agreement amid a tariff war that has lasted for more than a year.
In other markets
In Taiwan, the Taiex dropped 17.41 points, or 0.2%, to 11,450.42
In Korea, the Kospi regained 16.78 points, or 0.8%, to 2,139.23
In Singapore, the Straits Times Index subtracted 7.37 points, or 0.2%, to 3,231.85
In Australia, the ASX 200 climbed 36.70 points, or 0.6%, to 6,735.05
In New Zealand, the NZX restored 63.82 points, or 0.6%, to 10,889.25
