Investing.com - Most Asian stocks traded lower amid a disappointing batch of earnings reports and concerning data points.
In Asian trading Friday, Japan’s Nikkei 225 slipped 2.75% after Japan’s Statistics Bureau said the country’s consumer price inflation fell to 0.7% last month from 0.8% in August. Analysts expected the 0.7% reading.
In a separate report, the Statistics Bureau said Tokyo’s core CPI, which excludes fresh food costs rose to 0.3% last month from 0.2% in August. Analysts expected a reading of 0.3%.
The Bank of Japan said Japan’s corporate services price index was 0.7% last month after August’s reading was revised up to 0.7% from 0.6%. Analysts expected a September reading of 0.8%.
Hong Kong’s Hang Seng lost 0.53% while the Shanghai Composite dropped 0.96%. Chinese companies will finish delivering earnings by the end of this month and thus far, results have been tepid. Chinese stocks are headed for their longest skid since July.
Australia’s S&P/ASX 200 rose 0.4% to continue its run at five-year highs despite weakness in some financial services names. New Zealand’s NZSE 50 was also one of the regional standouts with a gain of nearly 1%.
In U.S. economic news out Thursday, the Department of Labor reported earlier that the number of individuals filing for initial jobless benefits declined by 12,000 to a seasonally adjusted 350,000. Analysts had expected U.S. jobless claims to fall by 22,000 to 340,000 last week.
South Korea’s Kospi fell 0.96% even after the Korea National Statistical Office said that South Korean GDP rose 1.1% last month, above the consensus estimate of 1%.
Singapore’s Straits Times Index lost 0.16%. S&P 500 futures fell 0.09% a day after the benchmark U.S. index rose 0.33%.
In Asian trading Friday, Japan’s Nikkei 225 slipped 2.75% after Japan’s Statistics Bureau said the country’s consumer price inflation fell to 0.7% last month from 0.8% in August. Analysts expected the 0.7% reading.
In a separate report, the Statistics Bureau said Tokyo’s core CPI, which excludes fresh food costs rose to 0.3% last month from 0.2% in August. Analysts expected a reading of 0.3%.
The Bank of Japan said Japan’s corporate services price index was 0.7% last month after August’s reading was revised up to 0.7% from 0.6%. Analysts expected a September reading of 0.8%.
Hong Kong’s Hang Seng lost 0.53% while the Shanghai Composite dropped 0.96%. Chinese companies will finish delivering earnings by the end of this month and thus far, results have been tepid. Chinese stocks are headed for their longest skid since July.
Australia’s S&P/ASX 200 rose 0.4% to continue its run at five-year highs despite weakness in some financial services names. New Zealand’s NZSE 50 was also one of the regional standouts with a gain of nearly 1%.
In U.S. economic news out Thursday, the Department of Labor reported earlier that the number of individuals filing for initial jobless benefits declined by 12,000 to a seasonally adjusted 350,000. Analysts had expected U.S. jobless claims to fall by 22,000 to 340,000 last week.
South Korea’s Kospi fell 0.96% even after the Korea National Statistical Office said that South Korean GDP rose 1.1% last month, above the consensus estimate of 1%.
Singapore’s Straits Times Index lost 0.16%. S&P 500 futures fell 0.09% a day after the benchmark U.S. index rose 0.33%.