Asian Stock Market: Trades mixed on US-China row, central banks guidance
- Asian stocks remain poised to end the week on a flat path despite its higher US counterparts.
- Higher inflation, major central banks verdicts, lower economic growth keep traders' nerves in check.
- Recent US-China row over Taiwan bolsters tension in the region.
Asia-Pacific stocks are mixed on Friday diverging from the positive cues from Wall Street . Further, investors digested the policy updates from the Bank of Canada (BOC), Bank of Japan (BOJ), and the European Central Bank (Bank) policy announcements.
The sentiment was further dampened in the region after China accused the US over Taiwan military contracts by referring to it as interference in internal affairs.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.3% and remained on track for a weekly loss of 1.3%.
The Shanghai Composite Index dropped 0.3%, following fear amid resurgence of coronavirus cases, ongoing property sector crisis, government intervention in the coal industry and rising tension with the US.
The Nikkei 225 index declined 0.7% after dismal data. The Japanese Industrial Production shranked at 5.4% in September, weaker than the 3.2% forecast .
The ASX 200 traded a tad lower below 7,400 mark despite a rebound in Retail Sales. The Retail Sales rose by 1.3% in September, from a 1.7 drop in the previous month.
Hong Kong’s Hang Seng Index declined 0.41% while South Korea’s Kospi fell 0.64%.
Author
Rekha Chauhan
Independent Analyst
Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.
