Shares in Asia-Pacific were mixed on Friday as investors monitored Chinese tech stocks in Hong Kong after regulatory concerns resurfaced.
Bloomberg News reported that Beijing is considering harsh penalties on ride-hailing giant Didi. The penalties being planned range from a fine likely bigger than the record $2.8 billion Alibaba paid earlier this year to even a forced delisting after Didi’s IPO last month.
That development came as Beijing continues its months-long crackdown on China’s tech behemoths, targeting issues from anti-trust to data regulation.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.72%.
South Korea’s Kospi closed 0.13% higher at 3,254.42. In Australia, the S&P/ASX 200 ended the trading day 0.11% higher at 7,394.40.
· China stocks fall as foreigners turn net sellers under Connect
China shares ended lower on Friday, trimming gains for the week, as consumer staples, healthcare, and real estate firms dropped while foreign investors turned net sellers under a key cross-border investment channel.
The blue-chip CSI300 index fell 1.2% to 5,089.23, while the Shanghai Composite Index lost 0.6% to 3,550.40 points. For the week, CSI300 is down 0.1% while SSEC is up 0.3%.
Foreign investors snapped a four-day streak of net buying of A-shares, as they became net sellers through the Stock Connect scheme linking Hong Kong and mainland China, Refinitiv data showed .
· European markets advance as investors watch earnings, data
European stocks were modestly higher on Friday, as investors monitored a slew of economic data from across the continent, along with a fresh round of corporate earnings.
The pan-European Stoxx 600 climbed 0.5% in early trade, with autos and basic resources adding 1.3% to lead gains as all sectors and major bourses entered positive territory.
· FTSE 100 gains as miners jump; Vodafone top boost
The FTSE 100 index rose on Friday, led by heavyweight miners and insurance stocks, with Vodafone being the top boost after it reported strong earnings.
The blue-chip index gained 0.6%, with miners Rio Tinto, Anglo American, Glencore and BHP Group being among the top boosts.
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