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Asian markets mixed on weak lead from Wall Street | Asian markets mixed on weak lead from Wall Street |
(35 minutes later) | |
Asian markets traded mixed on Friday after taking a weak lead from Wall Street, where shares saw choppy trade as the prospect of higher interest rates gained momentum. | Asian markets traded mixed on Friday after taking a weak lead from Wall Street, where shares saw choppy trade as the prospect of higher interest rates gained momentum. |
The Dow Jones and S&P 500 closed flat after several firms reported earnings that showed a mixed picture of the economy. | The Dow Jones and S&P 500 closed flat after several firms reported earnings that showed a mixed picture of the economy. |
The markets had been rallying this week on the Federal Reserve's hints that the US economy was strong enough to raise rates in December. | The markets had been rallying this week on the Federal Reserve's hints that the US economy was strong enough to raise rates in December. |
The Nikkei was down by 0.5% to 19,753.14 points. | |
The Japanese benchmark index retreated from the three-month highs hit on Thursday as the yen strengthened against the dollar. | The Japanese benchmark index retreated from the three-month highs hit on Thursday as the yen strengthened against the dollar. |
A stronger yen is considered bad for Japanese exporters because it makes their goods more expensive to buy overseas. | A stronger yen is considered bad for Japanese exporters because it makes their goods more expensive to buy overseas. |
Chinese shares traded flat, with the Shanghai Composite at 3,617.34 points, while Hong Kong's Hang Seng index was down 0.2% to 22,448.61 points in early trade. | |
In Australia, the S&P/ASX 200 index was up 0.4% to 5,265.40 despite China's slowing growth weighing on metal prices. | |
South Korea's benchmark Kospi index gained 0.1% to 1,991.05. | |
The country's finance minister Choi Kyung-hwan said the government will maintain policies aimed at boosting domestic demand over the next year and they will help the economy achieve 3% growth or higher in 2016. | The country's finance minister Choi Kyung-hwan said the government will maintain policies aimed at boosting domestic demand over the next year and they will help the economy achieve 3% growth or higher in 2016. |