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Markets mostly down across Asia following a rocky week | Markets mostly down across Asia following a rocky week |
(about 1 hour later) | |
Asia's markets were mostly down in early trade on Friday following a rocky week featuring particularly volatile swings in Tokyo. | Asia's markets were mostly down in early trade on Friday following a rocky week featuring particularly volatile swings in Tokyo. |
Japan's Nikkei opened 0.75% lower but was later down just 0.3% at 18,246.8. | Japan's Nikkei opened 0.75% lower but was later down just 0.3% at 18,246.8. |
After surging almost 8% on Wednesday, the Nikkei closed down on Thursday 2.5% at 18,299.6 - among Asia's big losers. | After surging almost 8% on Wednesday, the Nikkei closed down on Thursday 2.5% at 18,299.6 - among Asia's big losers. |
Investors are showing signs of concern over whether the US Federal Reserve will raise interest rates next week. | Investors are showing signs of concern over whether the US Federal Reserve will raise interest rates next week. |
They have also been concerned over the strength of China's economy, which is the world's second-biggest after the United States. | They have also been concerned over the strength of China's economy, which is the world's second-biggest after the United States. |
Japan's investors seem to shrug off news that Japan Post is seeking to raise as much as 1.39tn yen ($11.5bn, £7.4bn) in a stock market listing that would be one of the world's biggest this year. | Japan's investors seem to shrug off news that Japan Post is seeking to raise as much as 1.39tn yen ($11.5bn, £7.4bn) in a stock market listing that would be one of the world's biggest this year. |
The plan for the state-owned giant would be one of Japan's largest public share sales in more than 30 years. | The plan for the state-owned giant would be one of Japan's largest public share sales in more than 30 years. |
Sydney falls | Sydney falls |
In Australia, the benchmark S&P/ASX 200 was down 0.4% at 5,075.3 points despite gains on Wall Street overnight. | In Australia, the benchmark S&P/ASX 200 was down 0.4% at 5,075.3 points despite gains on Wall Street overnight. |
Analysts said energy stocks could give the Australian market a boost after oil prices rose by 4%. | Analysts said energy stocks could give the Australian market a boost after oil prices rose by 4%. |
The US Energy Information Agency said oil production had fallen to a one-year low in August and was likely to keep falling into 2016. | The US Energy Information Agency said oil production had fallen to a one-year low in August and was likely to keep falling into 2016. |
"This seemed to shroud out the higher than expected growth in oil inventories, seeing WTI (West Texas Intermediate crude) rise 4%," said Angus Nicholson of IG Markets. | "This seemed to shroud out the higher than expected growth in oil inventories, seeing WTI (West Texas Intermediate crude) rise 4%," said Angus Nicholson of IG Markets. |
"This may see some boost to the energy sector after a bit of a sell-off yesterday as buyout speculation calmed," he added. | "This may see some boost to the energy sector after a bit of a sell-off yesterday as buyout speculation calmed," he added. |
After being the one bright spot in Asia yesterday, South Korea's benchmark Kospi was down 0.9% at 1,945.1 points. The Bank of Korea left its benchmark rate unchanged at 1.5% on Friday. | |
However, China's markets were offering some encouraging signs, with the Shanghai Composite up 0.44% at 3,212 points, while Hong Kong's Hang Seng was up 0.55% at 21,674 points in early trade. | However, China's markets were offering some encouraging signs, with the Shanghai Composite up 0.44% at 3,212 points, while Hong Kong's Hang Seng was up 0.55% at 21,674 points in early trade. |