Stocks in Asia Pacific were mixed on Friday as investors watched for market reaction to China’s controversial national security law for Hong Kong that was approved on Thursday.
In Tokyo, the Nikkei 225 settled 38.42 points, or 0.2%, to 21,877.89, as shares of robot maker Fanuc fell 2.8%.
On the economic data front, Japan’s retail sales fell 13.7% year-on-year in April, according to data released Friday by the country’s Ministry of Economy, Trade and Industry. That compared against a median market forecast of a 11.5% decline.
The Japanese yen traded at 107.17 per U.S. dollar after strengthening from levels above 107.8 yesterday.
The Hang Seng index in Hong Kong sank 171.29 points, or 0.7%, to 22,961.47, as shares of HSBC fell 3%.
Australian markets sustained losses, as shares of major banks such as Commonwealth Bank of Australia and Westpac dropped. The Australian dollar changed hands at $0.6661, following its rise from levels around $0.66 yesterday.
CHINA
In Shanghai, the CSI 300 poked higher 10.39 points, or 0.3%, to 3,867.02.
China’s National People’s Congress on Thursday approved a national security bill for Hong Kong, calling into focus the embattled city’s autonomy from China. Hong Kong has a “one, party two systems” principle that allows for it to have additional freedoms not available to mainland Chinese residents.
U.S. President Donald Trump said he would hold a press conference on U.S.-China relations, expected sometime on Friday stateside.
In other markets
In Korea, the Kospi inched forward 1.06 points, or 0.1%, to 2,029.60
In Taiwan, the Taiex index slid 2.03 points to 10,942.16
In Singapore, the Straits Times Index deleted 4.49 points, or 0.2%, to 2,510.75.
In New Zealand, the NZX 50 gained 25.72 points, or 0.2%, to 10,882.41.
In Australia, the ASX 200 erased 95.41 points, or 1.6%, to 5,755.69.
