Asia Ends Week Mixed

Shares in Asia-Pacific were mixed on Friday.

In Japan, the Nikkei 225 lost 116.59 points, or 0.4%, to 28,941.52.

Technology stocks fell in Friday trade. Japanese conglomerate Softbank Group declined 1.3% while South Korean chipmaker SK Hynix shed 0.4%.

The Japanese yen traded at 110.17 per U.S. dollar, weaker than levels below 110 seen against the greenback yesterday.

In Hong Kong, the Hang Seng dropped 47.93 points, or 0.2%, to 28,918.10.

Hong Kong-listed shares of Alibaba slipped 0.3% on Friday. The losses came despite Alibaba-affiliate Ant Group receiving approval to operate a consumer finance company. That marked a major positive development for Ant in the forced restructuring of its business months after its highly anticipated debut was abruptly shelved.

Other Hong Kong-listed Chinese tech firms also declined: Baidu plunged 3.1% while Tencent slipped 0.7% and Meituan dropped 1.7%.

The Australian dollar changed hands at $0.7663, lower than levels above $0.772 seen earlier in the week.

CHINA

In Shanghai, the CSI 300 restocked 26.99 points, or 0.5%, to 5,282.28.

Investor sentiment on the sector may have taken a hit after U.S. President Joe Biden on Thursday expanded restrictions on American investments in certain Chinese firms with alleged ties to the country’s military and surveillance efforts. Chinese telecommunications powerhouse Huawei Technologies was among the 59 companies named.

In other markets

In Singapore, the Straits Times Index doffed 13.96 points, or 0.4 %, to 3,151.04

The Kospi index in Korea slid 7.35 points, or 0.2%, to 3,240.08

In Taiwan, the Taiex index tumbled 98.75 points, or 0.6%, to 17,147.41

In New Zealand the NZX 50 recovered 66.29 points, or 0.5%, to 12,496.27

In Australia, the ASX 200 jumped 35.21 points, or 0.5 %, to 7,295.35.