Publications
Partners
Hong Kong - Asian markets were mostly lower on Friday following losses on Wall Street fuelled by anaemic US consumer spending, while the dollar and euro extended losses against the yen.
Investors were taking a breather ahead of the release next week of key economic data, including on global manufacturing activity, US jobs and Japanese business confidence.
Tokyo tumbled 1.39% to 15 095.00 as the strong yen hit exporters, Sydney fell 0.35% to close at 5 445.1 and Seoul slipped 0.33% to 1 988.51.
Shanghai closed 0.11% lower, giving up 2.17 points to 2 036.51 but Hong Kong reversed earlier losses to finish 0.10% higher, adding 23.69 points to 23 221.52.
In New York the three main indexes ended lower on Thursday after the government released figures showing consumer spending, which accounts for more than two-thirds of US economic activity, rose just 0.2% in May after a flat April.
The figures came a day after news that the economy shrank a lot more than first thought in January to March, leading to worries that a recovery is still fragile.
The Dow eased 0.13% and the S&P 500 dipped 0.12%, having both touched record highs at the end of last week. The Nasdaq was flat.
On currency markets the dollar, which sank in New York after the weak spending data, fell further in Tokyo.
The dollar bought ¥101.42 compared with ¥101.70 in New York and ¥101.79 in Tokyo earlier on Thursday.
The euro also dropped, buying ¥138.16, down from ¥138.42 in US trade and well off the ¥138.78 on Thursday in Asia. The single currency was at $1.3619 against $1.3609.
Oil prices -- which have been sitting at nine-month highs because of the Iraq crisis -- edged higher.
US benchmark West Texas Intermediate was up 5 cents at $105.89, while Brent crude added 7c to $113.28.
Gold fetched $1 316.77 an ounce at 10:13 compared with $1 312.60 late on Wednesday.
In other markets:
- Taipei fell 0.15% to 9 306.83.
Taiwan Semiconductor Manufacturing Co rose 0.8% to Tw$125.5 while Acer slipped 1.85% to Tw$21.2.
- Wellington added 0.27% to 5 144.25 but trading was curtailed by a technical glitch.
Telecom was up 0.93% at NZ$2.72 and Freightways was unchanged on NZ$5.11.
- Manila closed 0.73% lower, easing 50.03 points to 6 842.15.
A five-day rally had pushed prices to a 12-month high the previous day.
Ayala Land slipped 1.75% to 30.85 pesos, SM Prime Holdings was 2.9% lower at 15.92 pesos and SM Investments fell 2.46% to 811.50 pesos.
