Asia Mixed, Hong Kong Hit Hard

Stocks in Asia-Pacific were mixed on Friday as shares in Hong Kong led losses among the region’s major markets.

In Japan, the Nikkei 225 dumped 182.8 points, or 0.6%, to 29,611.57.

The Japanese yen traded at 113.78 per U.S. dollar, stronger than levels above 114 seen against the greenback yesterday.

In Hong Kong, the Hang Seng dropped 354.68 points, or 1.4%, to 24,870.51.

Shares of Chinese property developers in Hong Kong fell. China Evergrande Group slipped 2.5% while China Vanke dropped 1.4% and Sunac China Holdings plunged 6.8%.

Trading in Hong Kong-listed shares of Chinese property developer Kaisa Group and several of its units was suspended on Friday, according to exchange notices.

Kaisa Group said Thursday its finance unit missed a payment on a wealth management product, according to Reuters. Kaisa is the second-largest issuer of U.S. dollar-denominated offshore high-yield bonds among Chinese developers, according to Natixis. Evergrande ranks first.

It comes as investors continue to watch for developments in China’s property sector following the fallout from heavily indebted Evergrande. A few other Chinese real estate firms had also been under the spotlight for going into default, or missing payments on their debt.

The Australian dollar was at $0.7387, struggling to recover after a plunge from above $0.75 earlier in the trading week.

In other markets

In China, the CSI 300 fell 26.39 points, or 0.5%, to 4,642.35

In Taiwan, the Taiex regained 218.04 points, or 1.3%, to 17,296.90

In Singapore, the Straits Times Index gained 22.65 points, or 0.7%, to 3,242.34

In Korea, the Kospi index slipped 13.95 points, or 0.5%, to 2,969.27.

In New Zealand the NZX 50 recovered 130.68 points, or 1%, to 13,074.61.

In Australia, the ASX 200 gained 28.95 points, or 0.4%, at 7,456.94.