FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
43,346,888Confirmed
1,159,097Deaths
31,905,975Recovered
Fetching Location Data…
Advertisement
Advertisement
James Hyerczyk
Asian Pacific Stock Markets

The major Asia-Pacific stock indexes finished mixed but mostly lower on Friday, buoyed by gains in China, but pressured by a cautious mood due to a resurgence of coronavirus infections in Europe and the United States.

Shares in China rose as investors snapped up banking shares due to an improving earnings outlook. Australian stocks erased early losses to trade flat. Japanese stocks edged higher, but South Korean shares lost ground.

Advertisement

On Friday, Japan’s Nikkei 225 Index settled at 23410.63, down 96.60 or -0.41%. Hong Kong’s Hang Seng index finished at 24386.79, up 228.25 or +0.94% and South Korea’s KOSPI Index closed at 2341.53, down 19.68 or -0.83%.

In China, the Shanghai Index settled at 3336.36, up 4.18 or +0.13% and Australia’s S&P/ASX 200 Index finished at 6176.80, down 33.50 or -0.54%.

Australia Shares Finish Lower as Mining, Energy Stocks Fall

Australian shares edged lower on Friday, dragged down by mining stocks after Reo Tinto raised concerns about steel production outside China, with sentiment taking a hit from a resurgence in coronavirus cases in Europe.

The benchmark S&P/ASX 200 Index rose 1.2% this week, recording its second straight weekly gain.

Shares of Reo Tinto fell 0.9% after the world’s biggest iron ore miner said steel production outside of China remains significantly down year on year while rising coronavirus cases were putting global economic growth at risk.

The Australian energy sector fell 1%, tracking lower oil prices. Sector heavyweight Santos fell 2%, while Oil Search tumbled 3%.

Advertisement

South Korean Shares Post Biggest Weekly Fall in Three as Global Virus Woes Weigh

South Korean shares posted their sharpest weekly fall in three on Friday as a resurgence in COVID-19 cases across Europe and the U.S., and fading hopes for a U.S. stimulus package hit sentiment.

In other news, shares of Samsung Electronics fell 0.83% and SK Hynix declined 2.07%. South Korea reported 47 new coronavirus cases as of Thursday midnight, marking the smallest daily cases since September 29.

Nikkei Falls as Coronavirus Resurgence in Europe Hits Sentiment

Japan’s Nikkei share average fell on Friday as new coronavirus curbs in Europe dimmed hopes of a swift global economic recovery, although losses were limited after Fast Retailing forecast upbeat annual earnings.

The Nikkei was helped by gains in index heavyweight Fast Retailing, which jumped more than 4.4% after the operator of casual clothing chain posted better than expected earnings.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US