Asia-Pacific markets were mixed Friday as investors parsed Japan’s latest gross domestic product figures and awaited a slate of other economic data from the region.
In Japan, the Nikkei 225 dipped 1.79 points to 37,753.72, after Japan’s economy contracted 0.2% quarter-on-quarter for the three months ended March. Economists polled by Reuters had estimated a 0.1% economic contraction from the prior quarter.
The data comes at a time when the country is locked in trade negotiations with the U.S., with initial talks between both sides not yielding a conclusive deal so far.
A weak outcome for Japan’s GDP can weigh on the Bank of Japan’s rate hike pricing and push USD/JPY up towards resistance at 148.13, Commonwealth Bank of Australia wrote in a note. The Japanese yen is currently trading at 145.52 against the greenback.
In Hong Kong, the Hang Seng skidded 108.11 points, or 0.5%, to 23,345.05.
In other markets
In China, the CSI 300 lost 18.11 points, or 0.5%, to 3,889.09.
In Korea, the Kospi index poked ahead 5.51 points, or 0.2%, to 2,626.87
In Taiwan, the Taiex Index recovered 113.44 points, or 0.5%, to 21,843.69
In Singapore, the Straits Times index eked ahead 5.93 points, or 0.2%, to 3,897.87
In New Zealand, the NZX 50 declined 94.03 points, or 0.7%, to 12,786.79.
In Australia, the ASX 200 gained 46.2 points, or 0.6%, to 8,347.68