China Leads Losses in Asia Markets - InvestingChannel

China Leads Losses in Asia Markets

Shares in Asia-Pacific were mostly lower on Friday after the S&P 500 on Wall Street cruised to yet another record closing high overnight.

The Nikkei 225 regained 59.08 points, or 0.2%, to finish the week at 29,768.06.

The Japanese yen traded at 109.52 per U.S. dollar, following an earlier high of 109.19 against the greenback.

In Hong Kong, the Hang Seng index dumped 309.27 points, or 1.1%, to 28,698.80.

Shares of Tencent-backed financial technology firm Linklogis surged nearly 10% from their issue price in their Hong Kong debut. Shares of Chinese tech juggernaut Tencent rose fractionally.

The Australian dollar changed hands at $0.7605, off an earlier high of $0.7661.

CHINA

In Shanghai, the CSI 300 fell 76.87 points, or 1.5%, to 5,035.34

The moves came as official data released Friday showed Chinese consumer and producer inflation rising in March as compared with a year ago.

The consumer price index for March rose 0.4% from last year, more than expectations for a 0.3% increase in an economist poll. The producer price index for March jumped 4.4% from last year, against expectations in a similar poll for a 3.5% rise.

In other markets

In Singapore, the Straits Times index lost 1.86 points, or 0.1%, to 3,184.54

In Korea, the Kospi index subtracted 11.38 points, or 0.4%, to 3,131.88.

In Taiwan, the Taiex index dwindled 72.34 points, or 0.4%, to 16,854.10.

In New Zealand, the NZX 50 deleted 58.25 points, or 0.5%, to 12,574.36.

In Australia, the ASX 200 docked 3.60 points, or 0.1%, to 6,995.17.

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