Asia-Pacific markets traded mixed Friday as investors parse a slew of economic data out of China.
In Japan, the Nikkei 225 docked 121.14 points, or 0.3%, to 38,451.44.
In Hong Kong, the Hang Seng index gained 61.17 points, or 0.3%, to 19,584.06. The index is on track for its fourth straight day of gains.
The offshore yuan strengthened 0.06% to 7.3419 against the U.S. dollar.
CHINA
China’s CSI 300 forged ahead 11.96 points, or 0.3%, to 3,812.34.
China’s economy expanded by 5% year on year in 2024, with an upswing in the final quarter of the year. The country’s fourth-quarter GDP beat expectations with a 5.4% growth.
China’s retail sales in December jumped 3.7% from a year earlier, exceeding Reuters’ forecast of 3.5%. Industrial output expanded 6.2% from a year earlier, versus expectations of 5.4%.
Shares in China’s state-backed real estate developer China Vanke fell more than 8% Friday, following news that its CEO Zhu Jiusheng had been detained by the police.
China Vanke is facing a deepening bond selloff amid concerns that its debt payments will be due soon. Its financial struggles became public last year after it sought to extend the maturity of debt as its monthly sales figures fell below break-even levels.
In other markets
In Singapore, the Straits Times index nosed up 9.65 points, or 0.3%. to 3,810.78
In Korea, the Kospi index slipped 3.94 points, or 0.2%, to 2,523.55.
In Taiwan, the Taiex index vaulted 122.98 points, or 0.5%, to 23,148.08
In New Zealand, the NZX 50 added 129.76 points, or 1%, to 13,130.43.
In Australia, the ASX 200 sagged 16.58 points, or 0.2%, to 8,310.38
