Asia Markets: Stocks in Japan and China fall, but losses at least slow down

Asia Markets: Stocks in Japan and China fall, but losses at least slow down

An uncertain start for some Asian stock markets following Thursday’s drubbing evolved into broad gains Friday as trading progressed — with the notable exceptions of Japan and China. Still, the region will post big weekly declines absent a huge move higher by the day’s end.


Japan’s morning declines have persisted, with the Nikkei NIK, -0.31%   seeing a 0.3% drop. Insurers and energy stocks were notable decliners following fresh overnight declines in bond yields and oil prices. Dai-ichi Life 8750, -2.74%   was down 4.3%, in line with yesterday’s skid, while oil distributor JXTG 5020, -0.85%   dropped a further 1%.


Chinese stocks, weak early after their worst day in 2½ years, just slid to session lows following the release of September trade data. The Shanghai Composite SHCOMP, -0.12%   is down 0.5% and the Shenzhen Composite 399106, -0.80%   was off 1.4%.

Hong Kong stocks opened broadly higher after yesterday’s beatdown, to be one of Asia’s better early performers. The Hang Seng HSI, +1.18%   was up 0.5% after a 17-month closing low Thursday. A technical indicator suggests the Hang Seng’s finish Thursday put the index at its most-oversold level since the start of 2016. After a record 10 straight drops, Tencent 0700, +5.09%  was up nearly 4%. Meanwhile, insurer AIA 1299, +2.23%   gained 1.5%.


Benchmark indexes in New Zealand NZ50GR, +1.40%  , South Korea SEU, +1.44%   and Taiwan Y9999, +1.99%  , all of which saw their worst days in at least 7 years yesterday, rose some 1% each. Indexes in Singapore STI, +0.19%   and Malaysia FBMKLCI, +0.79%   also rose, while Australia’s ASX 200 XJO, +0.01%   was about flat.


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