Asian shares fell in muted trading as most world markets were closed for Good Friday and other holidays.
Benchmarks declined in Taipei, Tokyo, Seoul and Shanghai.
Sydney, Manila, Bangkok and Hong Kong were among regional markets observing holidays on Friday. US and European markets were also closed.
After markets closed, the People’s Bank of China freed up extra money for lending to support the slowing economy by cutting the amount of reserves commercial banks are required to hold.
The move added about 500 billion yuan (US$85 billion) to the pool for lending, a relatively modest sum compared with the size of China’s economy.
Shutdowns in major Chinese cities due to COVID-19 outbreaks and the war in Ukraine have been weighing on sentiment.
“The Russia-Ukraine conflict inflation effects are now more meaningful than direct military developments in a market sense. These consequences have fabricated an uncertain environment that could keep investors wary,” Stephen Innes of SPI Asset Management said in a commentary.
“It should be a quiet session given the Good Friday holidays,” he added.
The head of the IMF on Thursday said that Russia’s war against Ukraine was darkening the outlook for most countries and reaffirmed the danger high inflation presents to the global economy.
The TAIEX on Friday fell 1.4 percent to 17,004.18 points, ending the week 1.62 percent lower.
Japan’s benchmark Nikkei 225 on Friday lost 0.3 percent to finish at 27,093.19, paring its weekly gain to 0.4 percent. The broader TOPIX lost 0.6 percent daily to close at 1,896.31 points, down less than 0.1 percent weekly.
In Tokyo trading, chip-related shares were lower, with chip-testing equipment maker Advantest Corp dropping 4.03 percent and Tokyo Electron Ltd, a major producer of tools to build semiconductors, tumbling 4.99 percent.
Sony Group lost 2.52 percent, while Softbank Group fell 1.21 percent.
Uniqlo operator Fast Retailing Co soared 8.83 percent, a day after the firm revised its annual net profit forecast upward.
South Korea’s KOSPI on Friday dipped 0.8 percent to 2,696.06 and lost 0.2 percent for the week.
The Shanghai Composite Index on Friday lost 0.5 percent to 3,211.24 points, down 1.25 percent weekly.
Additional reporting by AFP, with staff writer
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