Asia-Pacific markets traded mostly lower with the exception of Japan as the yen pushed higher against both the euro and U.S. dollar on Friday.
In Japan, the Nikkei 225 index restored 86.63 points, or 0.3%, to 27,670.98.
This follows a Nikkei report which said Kazuo Ueda would be appointed as the Bank of Japan’s next governor. The yen strengthened 0.77% against the U.S. dollar, and last stood at 130.64.
In Hong Kong, the Hang Seng Index tumbled 433.64 points, or 2%, to 21,190.42.
In corporate earnings, Taiwan Semiconductor Manufacturing Company, or TSMC, will release its monthly sales report later in the day.
Australian markets moved downward as investors digested the Reserve Bank of Australia’s statement on monetary policy indicating further hikes ahead. Earlier this week, the central bank raised its benchmark interest rates by 25 basis points to 3.25%.
CHINA
China’s inflation data came in lower than expected. Consumer prices in the nation rose 2.1% in January compared to a year ago.
The Shanghai CSI 300 let go of 24.55 points, or 0.6%, to 4,106.31.
In other markets
In Korea, the Kospi erased 11.79 points, or 0.5%, to 2,469.73.
In Singapore, the Straits Times inched up 1.21 points to 3,360.69.
In Taiwan, the Taiex dropped 12.06 points, or 0.1%, to 15,586.65.
In New Zealand, the NZX 50 restocked 60.09 points, or 0.5%, to 12,178.76.
In Australia, the ASX 200 subtracted 56.67 points, or 0.8%, to 7,433.66.