Stocks in Asia-Pacific were lower in Friday trade following an overnight bounce on Wall Street on the back of better-than-expected U.S. economic data.
In Japan, the Nikkei 225 slipped 0.55% while the Topix index fell 0.9%. Japan’s industrial output rose 4% in September from the previous month, according to a preliminary report released Friday by the country’s Ministry of Economy, Trade and Industry. South Korea’s Kospi fell 1%. Hong Kong’s Hang Seng index sat below the flatline by the afternoon. Mainland Chinese stocks were also lower, with the Shanghai composite down 0.1% while the Shenzhen component dipped 0.417%. Over in Singapore, the Straits Times index declined 0.23%. Shares of Nanofilm Technologies surged more than 15% from their listing price as they made their debut in the city on Friday. The firm’s listing is Singapore’s largest in at least six years, according to Reuters. Meanwhile, shares in Australia nudged higher, with the S&P/ASX 200 up around 0.1%. AMP saw its stock soar more than 20% after the firm announced Friday it received a conditional takeover offer from Ares Management. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.09% higher.
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