Asia report: Most markets lower amid cyclone of earnings

Markets in Asia were mostly lower on Friday, with traders sifting through a decent pile of corporate earnings.

Japan’s Nikkei 225 finished down 0.6% at 19,959.84, as the yen gained slightly on the dollar, last moving 0.02% to JPY 111.24.

Corporate earnings were top of the agenda in Japan, as with much of the region, with carmaker Nissan losing 4.11% after the firm said its first quarter operating profit was 12.8% lower year-on-year at JPY 153.3bn.

Toshiba confirmed it had reached a deal with SCANA Corporation to exit its failed US nuclear projects, which it acquired through its purchase of Westinghouse.

The technology firm would pay SCANA $2.17bn in instalments from October.

Shares in Toshiba finished down 10.88%.

Fresh data released during the day showed retail sales were 2.1% higher year-on-year, which was lower than the 2.3% anticipated.

Core consumer prices in the country were 0.4% ahead year-on-year, which was in line with expectations, while consumer prices sans fresh food and energy were flat.

On the mainland, the Shanghai Composite was up 0.13% at 3,254.13, and the smaller, technology-centric Shenzhen Composite was ahead 0.13% at 1,868.37.

South Korea’s Kospi slid 1.73% to 2,400.99, while the Hang Seng Index in Hong Kong was 0.56% softer at 26,979.39.

On the Hong Kong bourse, insurer AIA Group was down 1.98% after it reported a 16% improvement in profit after tax in the first half.

In Seoul, Samsung Electronics was off 4.1% after it reported record profits on Thursday.

Oil prices were higher, with Brent crude last up 0.45% at $51.72 per barrel and West Texas Intermediate adding 0.02% to $49.05.

In Australia, the S&P/ASX 200 slipped 1.42% to 5,702.82 with broad losses across the sectors, including the weighty financials subindex which lost 1.7%, while healthcare fell 2.08%.

New Zealand’s S&P/NZX 50 fell 0.9% to 7,639.51, led lower by dairy products and baby food exporter A2 Milk, which lost 5.3% after soaring to record prices earlier in the week.

Both of the down under dollars were weaker on the greenback, with the Aussie last off 0.23% at AUD 1.2580 and the Kiwi also retreating 0.23% at NZD 1.3387.