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Asian markets end lower on Friday

13 May 2016 Evaluate

Asian equity markets ended lower on Friday as the yen ticked up and oil prices fell after rising about 1 percent in choppy trade overnight. Caution ahead of a deluge of European, US and Chinese data also kept investors on the sidelines, heading into the weekend. Japanese stocks fell in choppy trade, dragged down by profit-taking and persistent concerns over a stronger yen's impact on corporate profits. An uptick in yen hit exporter's shares and Apple suppliers underperformed on concerns they will see a significant drop in orders in H2 due to weak demand from smart phones. The yen edged up a little bit, but hovered near two-week lows amid speculation the Bank of Japan could expand its monetary stimulus as soon as next month. China stocks closed at their lowest level in two months, as metal prices dropped and the Yuan weakened amid concern the government will hold off from new stimulus even as growth falters. Hong Kong shares dropped as investors awaited a slew of Chinese data due this weekend. While data on new loans and money supply are slated for release later in the day, reports on industrial output, fixed asset investment and retail sales will be published on Saturday.

Asian IndicesLast Trade             Change in Points

Change in %  

Shanghai Composite2,827.11 -8.75-0.31
Hang Seng19,719.29 -196.17-0.99
Jakarta Composite4,761.71 -41.61-0.87
KLSE Composite1,628.26 -20.72-1.26
Nikkei 22516,412.21 -234.13-1.41
Straits Times2,734.91 -10.48-0.38
KOSPI Composite1,966.99 -10.50-0.53
Taiwan Weighted8,053.69 -54.36-0.67