Asian equity indices are exhibiting mixed trade in early deals on Friday, with investors treading cautiously amid continued worries about the outlook for the global economy. Despite some upbeat US economic data that included a report showing an unexpected rise in industrial production, traders appear somewhat reluctant to indulge in any significant buying. On the regional front, the Japanese market retreated and slipped into negative territory on worries about the outlook for the global economy. Besides, fall in banks and exporters, which is on course for its biggest weekly slide since April after entering a correction also contributed to the downside. Among other markets in the Asia-Pacific region, Hong Kong, Singapore, Malaysia and Indonesia are trading higher, while Shanghai, South Korea and Taiwan are weak.
Hang Seng added 29.08 points or 0.13% to 22,930.02, Straits Times strengthened by 2.90 points or 0.09% to 3,157.11, Jakarta Composite increased by 27.36 points or 0.55% to 4,978.98 and FTSE Bursa Malaysia KLCI was up by 12.31 points or 0.70% to 1,780.08.
On the flip side, Nikkei 225 tumbled by 88.17 points or 0.60% to 14,650.21, KOSPI Index dipped 14.79 points or 0.77% to 1,904.04, Shanghai Composite declined by 25.12 points or 1.07% to 2,331.38 and Taiwan Weighted was down by 69.05 points or 0.80% to 8,564.64.