Asian shares mostly fell on Friday in lackluster trading, as trade tensions between the US and China overshadowed optimism about more fiscal stimulus for the ailing US economy.
Investors were also awaiting a US report on jobs later on Friday for another gauge of the economic fallout from the COVID-19 pandemic.
The data, which came after markets closed in Asia, showed that US non-farm payrolls last month increased 1.76 million, much lower than the record 4.8 million in June. However, the figure still topped economists’ expectations
US shares have been rising as investors also waited for the US Congress and the White House to reach a hoped-for deal on more aid for the US economy.
Asian benchmarks appeared to be still steeped in worries about the growing number of coronavirus cases in some areas, and the painful impact of lockdowns, especially in Southeast Asia.
“The hope is for a smooth recovery as lockdowns ease, but the fear is that global second-wave risks and rising US-China tensions may throw a spanner at ... recovery in the works,” said Hayaki Narita at Mizuho Bank Ltd in Singapore.
The MSCI Asia-Pacific Index on Friday fell 1.15 percent to 167.94, but gained 2 percent for the week.
The TAIEX on Friday retreated 0.66 percent to close at 12,828.87 points, paring its weekly gain to 1.3 percent.
Japan’s benchmark Nikkei 225 on Friday slipped 0.4 percent to finish at 22,329.94, but rose 2.9 percent weekly.
Australia’s S&P/ASX 200 on Friday sank 0.6 percent to 6,004.80, paring its weekly gain to 1.3 percent.
South Korea’s KOSPI on Friday edged 0.4 percent higher to 2,351.67, bringing its weekly gains to 4.6 percent.
The Shanghai Composite on Friday lost 1 percent to 3,354.04, but rose 1.3 percent for the week.
Toyota Motor Corp shares on Friday gained more than 1 percent in afternoon trading after Japan’s top automaker reported that it managed to stay in the black in the April-to-June period, despite plunging sales.
Nintendo Co shares also climbed, gaining 2.6 percent after the Japanese video-game maker reported healthy profits, as people stuck at home snatched up game software.
Hong Kong stocks ended lower and posted a fourth straight weekly drop, after the administration of US President Donald Trump unveiled a plan to ban US transactions with ByteDance Ltd’s (字節跳動) TikTok and Tencent Holdings Ltd (騰訊)-owned WeChat.
The Hang Seng Index (HSI) fell 1.6 percent to 24,531.62, while the China Enterprises Index (HSCE) lost 1.4 percent to 10,063.43.
For the week, the HSI shed 0.3 percent, while the HSCE firmed by 0.2 percent.
Trump on Thursday announced sweeping bans on US transactions with ByteDance and Tencent starting in 45 days.
Additional reporting by Reuters, with staff writer
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