Hong Kong Leads Asia Losses



Asia-Pacific markets largely fell Friday after producer prices in the U.S. grew at a faster than expected 0.6% in February.

In Japan, the Nikkei 225 index settled 99.74 points, or 0.3%, to 38,707.64.

Japan’s largest trade union, Rengo, said that workers at the country’s biggest firms are set for the sharpest wage spike in more than three decades. This comes as the country’s finance minister said that the country was “no longer in deflation,” a distinct break from previous positions.

In Hong Kong, the Hang Seng index lost 240.77 points, or 1.4%, to 16,720.89, dragged by healthcare and tech stocks. the Hang Seng is up 1.7% for the week.

Australian stocks drooped, to hit its lowest level in about two weeks.

CHINA

In Shanghai, the CSI 300 moved up 7.77 points, or 0.2%, to 3,569.99.

Meanwhile, the People’s Bank of China kept its one-year medium term lending facility rate unchanged at 2.5%.

In other markets

In Korea, the Kospi index backpedaled 51.92 points, or 1.9%, to 2,666.84.

In Taiwan, the Taiex index stumbled 255.42 points, or 1.3%, to 19,682.50.

Singapore’s Straits Times Index let go of 13.44 points, or 0.4%, to 3,172.96.

In New Zealand, the NZX 50 subtracted 41.35 points, or 0.4%, to 11,766.98.

In Australia, the ASX 200 dropped 43.75 points, or 0.6%, to 7,670.28.



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