Asian equity indices are exhibiting mixed trade in early deals on Friday, with the mood generally cautious after the OPEC decided not to cut oil production. Recent downbeat economic reports out of the US appear to weigh on the markets to some extent. On the regional front, the Japanese stock market moved higher as investors weighed economic data including inflation and as oil prices slid after OPEC took no action to ease a global supply glut. Further, weakness in Yen also contributed to the upside. On the economic front, Trade and Industry of Japan showed retail sales to have risen 1.4 percent year-over-year in October, following 2.3 percent growth in September. The slowdown was in line with expectations. Among other markets in the Asia-Pacific region, Shanghai, Singapore and Taiwan are modestly higher, while Hong Kong, Indonesia, Malaysia and South Korea are trading weak.
Nikkei 225 soared 186.92 points or 1.08% to 17,435.42, Straits Times increased by 11.85 points or 0.35% to 3,352.81, Shanghai Composite rose 19.09 points or 0.73% to 2,649.57 and Taiwan Weighted was up by 17.53 points or 0.19% to 9,182.84.
On the flip side, Hang Seng contracted by 25.70 points or 0.11% to 23,978.58, KOSPI Index dipped 2.43 points or 0.12% to 1,979.66, Jakarta Composite declined by 12.23 points or 0.24% to 5,133.08 and FTSE Bursa Malaysia KLCI was down by 7.70 points or 0.42% to 1,822.21.