Asia report: Markets mixed as oil prices pull back

Markets in Asia finished in a mixed state on Friday, with shares in China declining once again, after a serious fall for the Dow Jones Industrial Average on Wall Street overnight.

In Japan, the Nikkei 225 was down 0.22% t 22,258.73, as the yen weakened 0.11% against the dollar to last trade at JPY 111.75.

Among the index heavyweights, automation specialist Fanuc was down 2.69% and technology conglomerate SoftBank Group lost 0.26%, while fashion group Fast Retailing added 0.19%.

Video gaming giant Nintendo was on the back foot, losing 1.32% after releasing some particularly conservative guidance for the financial year.

The broader Topix index was 0.15% lower in Tokyo, ending the last trading day of the week at 1,617.93.

On the mainland, the Shanghai Composite was 1.2% lower at 3,086.40, and the smaller, technology-heavy Shenzhen Composite fell 1.33% to close at 1,665.80.

South Korea’s Kospi was off 0.51% at 2,179.31, while the Hang Seng Index in Hong Kong rose 0.19% to 29,605.01.

The blue-chip technology stocks were a mixed affair in Seoul, with Samsung Electronics managing gains of 0.45%, while chipmaker SK Hynix slid 2%.

Sentiment was middling at the start of the Asian session, after the Dow Jones Industrial Average lost 134.97 points in US trading overnight, as a busy earnings season continued on Wall Street.

Of the 170 companies on the S&P 500 that have released earnings so far, 78% had turned in better-than-expected numbers, according to data from FactSet.

Oil prices were lower as the region went to bed, with Brent crude last down 1.89% at $72.97, and West Texas Intermediate falling 1.67% to $64.14 per barrel.

“[The] end of US-Iran sanctions waivers are still the principle focus,” noted SPI Asset Management head of trading Stephen Innes on the fall.

“But perhaps price action was a bit to too enthusiastic.”

In Australia, the S&P/ASX 200 eked out gains of 0.05% to settle at 6,385.60.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 fell from its 10,000 point pedestal, slipping 0.8% in Friday’s session to settle at 9,994.57.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.28% at AUD 1.4214, and the Kiwi advancing 0.36% to NZD 1.5037.