Asia-Pacific markets traded mixed on Friday as investors kept an eye on negotiations over additional fiscal stimulus in the U.S.
In Japan, the Nikkei 225 dumped 103.72 points, or 0.4%, to 26,652.52.
The Japanese yen changed hands at 104.07 per U.S. dollar, strengthening from an earlier level around 104.27.
In Hong Kong, the Hang Seng index regained 95.28 points, or 0.4%, to 26,505.87.
Korean indices gained ground Friday. Government data released Friday showed the country’s exports in the first 10 days of December jumped 26.9% from a year ago thanks to a sales boost in major products such as semiconductors.
Australian indices moved south, with most sectors finishing in the red. The heavily-weighted financials sub-index declined 0.86% as the country’s so-called Big Four banks struggled for gains.
Iron ore prices advanced Friday. Benchmark iron ore futures on China’s Dalian Commodity Exchange jumped nearly 10% to break above 1,000 yuan ($152.95) per tonne for the first time likely due to supply concerns and growing steel demand in the Asian country.
Analysts expect strong Chinese demand will keep iron ore prices elevated in the coming months. Commonwealth Bank noted that strong iron ore prices are “very supportive” of the Aussie dollar. Iron ore is one of Australia’s major exports.
The Australian dollar advanced 0.41% to $0.7564.
Across the pond, post-Brexit trade talks between the U.K. and European Union remain at an impasse over several notable issues including fishing rights and competition rules. Downing Street said “very large gaps” remain, while European Commission President Ursula Von der Leyen described the two sides as “far apart.”
In other markets
In Shanghai, the CSI 300 fell 50.89 points, or 1%, to 4,889.63.
In Korea, the Kospi index regrouped 23.6 points, or 0.9%, to 2,770.06
In Taiwan, the Taiex Index re-captured 12.2 points, or 0.1%, to 14,261.69.
In Singapore, the Straits Times Index slipped 3.26 points, or 0.1%, to 2,821.70.
In New Zealand, the NZX 50 jumped 58.88 points, or 0.5%, to 12,919.25.
In Australia, the ASX 200 dropped 40.54 points, or 0.6%, to 6,642.58.