Asia: Stocks little changed amid weak data in China, Japan

Asian stocks were little changed as investors digested a week that saw worse-than-forecast Japanese and Chinese data.

Reports this week included the Japanese consumer confidence index which fell unexpectedly in October.

In China, growth in industrial production and retail sales slowed in October to the surprise of analysts.

The weak data spurred hopes that People’s Bank of China might boost stimulus measures.

Japan’s central bank, meanwhile, has recently ramped up its stimulus programme to lift the feeble economy.

On Friday, a report on Hong Kong gross domestic product (GDP) saw growth of 1.7% in the three months ended 30 September from the second quarter, compared to a 0.1% contraction in previous period.

“Today’s GDP figures show that Hong Kong’s economy rebounded strongly in the third quarter, on the back of big increases in consumption and exports,” Capital Economics said.

“Although growth will probably weaken again in the fourth quarter because of the ongoing pro-democracy protests, prospects should improve thereafter.”

Hong Kong’s Hang Seng index ended 0.28% higher.

The Shanghai composite, on the other hand, fell 0.27% while Japan’s Nikkei 225 gained 0.56%.

Chinese aggregate financing in October was 662.7bn yuan, the central bank said today in Beijing, down from 1.05trn yuan in September and lower than the 887.5bn yuan market forecast.

On the company front, Honda Motor advanced after the yen weakened to support exports.

Nexon Co. gained after the online-game maker’s third quarter profit beat estimates.

Olam International slumped after agricultural commodities supplier posted weaker earnings in the first quarter.