(MENAFN– ecpulse)
The rising caution ahead of Chinese growth data next week offset gains from Wall Street`s record-breaking rally overnight triggered by believes the US Federal Reserve will keep its stimulus program for some time.
- MSCI Asia Pacific Index advanced 0.2 % to 135.38 as of 14:38 in Hong Kong
The U.S. Federal Reserve and the Bank of Japan both indicated this week they will maintain monetary stimulus, after the European Central Bank and Bank of England signaled they will keep key rates low; this helped the yen resume its pace of declines to breach the 99-mark.
- Nikkei 225 closed 0.23% higher at 14506.25
- Topix closed 0.60% higher at 1201.99
Investors will be closely watching China on Monday, when the world`s second biggest economy is due to release its growth figures for the second quarter. The recent disappointing trade and manufacturing figures for June darkened the outlook for growth.
- China’s CSI 300 Index closed 2.21% lower at 2275.37
- Hong Kong’s Hang Seng closed 0.75% lower at 21277.28
Although Chinese finance minister said he expects growth to come in at 7% this year, and China is Australia`s largest trading partner, stocks rose in Sydney supported by a rise in metal prices, pushing gold miners higher, while the Australian dollar fell below $0.92-mark.
- The S&P/ASX 200 closed 0.16% higher at 4973.88
- New Zealand’s NZX 50 closed 0.18% higher at 4568.33
In South Korea stocks fell as the stronger won, which traded near a one-month high against the greenback, weighed on the benchmark index. This triggered a sell-off in exporter stocks where Hyundai lost almost 6% while Kia fell 4.7%.
- Kospi closed 0.41% lower at 1869.98
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