Stocks in Asia were seen declining on Friday, with the Japanese market posting gains on the weaker yen. Meanwhile, the Chinese lending report showed signs that the second-biggest economy is weakening.
Hong Kong’s Hang Seng index remained unchanged opening at 24,667.63 points, while the Chinese benchmark Shanghai Composite lost 0.21% to 2,306.87 points at the time of writing.
In China, the oil-giants, Cnooc slumped 1.9%, while the Chinese Investment company Citic fell 4.3% in shares after Hong Kong’s securities regulator sued the unit. China Coal Energy lost 1.3% to HK$4.62.
In Japan, the benchmark Nikkei 225 index gained 0.25% to 15,948.29 points, while Tokyo’s Topix index rose 0.09% to trade at 1,312.51 points.
The yen weakened to a six-year low against the US dollar, trading around 107.21 on Friday, which boosted gains for Japanese exporters. Sony rose 2.7% after Disney and Fox said on Wednesday it will provide 22 networks to Sony for its planned Internet-based TV service.
Free Reports:
Other winners of the session were Nikon rising 1.9%, Toyota Motor climbing 1.4% to 6,303 yen and real estate company Mitsubishi Estate up by 2%.
The South Korean Kospi index rose 0.3% to trade at 2,040.24 points after the Bank of Korea kept its policy rate unchanged at 2.25% as expected.
Australia’s S&P/ASX 200 index slid 0.47% lower to 5,520.20, dragging financial stocks lower.
Westpac lost 0.6% during the early trading hours, while Commonwealth Bank of Australia and ANZ fell by almost 0.4% and National Australia Bank edged 0.3% lower as UBS AG said the government may require the top four banks told other capital of as much as A$68.67 billion.
OZ Minerals declined 2.4% after Iron ore and gold slumped 0.4% and 0.7% respectively, while BHP Billiton was up by 0.5%.
Stocks in Europe opened in green on the last day of the trading week as traders eye the upcoming Eurogroup meeting. The market will also be focusing on the polls in Scotland beforenext week’s independence referendum.
The Euro Stoxx 50 climbed 0.21% higher to 3,244.40, while the German DAX rose 0.12% to 9,703.48 at the time of writing. In France, the benchmark CAC 40 index gained 0.23% to 4,450.96 and UK’s FTSE 100 advanced 0.23% to 6,815.50.
Central bankers and finance ministers will be meeting in Milan to hold talks about the economic condition in the euro-block, including Greece and Cyprus.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The post Stock Market Report 12th September appeared first on | HY Markets Official blog.