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Asian markets end the week mostly down | |
(about 1 hour later) | |
Asia's markets were mostly down in trade on Friday following a rocky week featuring particularly volatile swings in Tokyo. | Asia's markets were mostly down in trade on Friday following a rocky week featuring particularly volatile swings in Tokyo. |
Japan's benchmark Nikkei index spent most of the day in negative territory to close down 0.19% at 18,264.22. | |
After surging almost 8% on Wednesday, the Tokyo index closed down 2.5% on Thursday - among Asia's big losers. | After surging almost 8% on Wednesday, the Tokyo index closed down 2.5% on Thursday - among Asia's big losers. |
Investor concern over whether or not the US Federal Reserve will raise interest rates next week has set in. | Investor concern over whether or not the US Federal Reserve will raise interest rates next week has set in. |
Investor sentiment has also been affected by the slowing Chinese economy, which is the world's second-biggest after the United States. | Investor sentiment has also been affected by the slowing Chinese 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 - including its banking and insurance arms - 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 - including its banking and insurance arms - 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. |
Chinese shares mixed | |
Chinese shares traded mixed with the Shanghai Composite closing down 0.1% to 3,200.45, while Hong Kong's Hang Seng ended down 0.3% to 21,504.37. | |
Fresh measures from regulators to ease the volatility in the market may be working as both benchmark indexes did not move dramatically this week. | |
In Australia, the benchmark S&P/ASX 200 closed down 0.47% at 5,071.10 points despite gains on Wall Street overnight. | In Australia, the benchmark S&P/ASX 200 closed down 0.47% at 5,071.10 points despite gains on Wall Street overnight. |
Analysts said investors there were also concerned about a possible rise in US interest rates. | Analysts said investors there were also concerned about a possible rise in US interest rates. |
After being the one bright spot in Asia yesterday, South Korea's benchmark Kospi closed down 1.06% at 1,941.37. The Bank of Korea left its benchmark rate unchanged at 1.5% on Friday. | After being the one bright spot in Asia yesterday, South Korea's benchmark Kospi closed down 1.06% at 1,941.37. The Bank of Korea left its benchmark rate unchanged at 1.5% on Friday. |