Shares in Asia-Pacific mostly fell in Friday trade as China left its benchmark lending rate unchanged.
China’s one-year loan prime rate (LPR) and five-year LPR were both left unchanged at 3.85% and 4.65%, respectively, on Friday. That was in line with expectations of majority of traders and analysts in a snap poll, according to Reuters.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.94% lower.
· Nikkei slides to 7-month low as Toyota drags peers, other cyclicals
Japan's Nikkei stock average extended its decline to a seven-month low on Friday, led by a slump in shares with strong link to the global economy, while Toyota Motor dragged its peers and affiliates lower.
The Nikkei share average fell 0.68% to 27,096.65 in the morning session, hovering just above the year-to-date low of 27,002 on January 6.
The broader Topix dropped 0.4% to 1,889.61.
For the week, Nikkei is set to lose after two straight weeks of gains.
· Hong Kong stocks drop nearly 2%; China holds steady on benchmark lending rate
Hong Kong’s Hang Seng index plunged 1.83% in afternoon trade, with Chinese tech shares largely continuing to see another day of heavy losses as regulatory uncertainty surrounding the sector lingers. Shares of Meituan dropped 3.9% while Alibaba fell 2.28% and JD.com declined 1.7%. Tencent, on the other hand, rose 1.57%. The Hang Seng Tech index shed 2.2%.
The Stoxx 600 traded 6 basis points higher with most sectors trading slightly above the flatline. Retail and basic resources led the sectorial gains, having been two of the worst performers during Thursday’s trading session.
The pan-European Stoxx 600 closed lower by 1.7% Thursday due in large part to signals from the Federal Reserve that it could reduce stimulus as early as this year.
· Stock futures are lower after S&P 500 ekes out winning day
Stock futures were in negative territory early Friday morning after a choppy regular trading session ended with the S&P 500 slightly in the green.
Dow Jones Industrial Average futures dropped 105 points. Futures on the S&P 500 and Nasdaq 100 futures were both also in negative territory.
Reference: CNBC, Reuters
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