Investing.com - Asian stock markets declined on Friday, after the release of mixed economic data from China, as concerns over the U.S. fiscal policy continued to dampen market sentiment
During late Asian trade, Hong Kong's Hang Seng Index tumbled 1.06%, Australia’s ASX/200 Index declined 0.49%, Japan’s Nikkei 225 Index dropped 0.9%.
Official data showed that consumer price inflation in China fell unexpectedly in October, ticking down 0.1% after a 0.3% increase the previous month. Analysts had expected consumer price inflation to rise 0.1% in October.
A separate report showed that industrial production in China rose by 9.6% last month, more than the expected 9.4% increase and following a 9.2% rise in September.
Overall market sentiment continued to be weighed by concerns over the U.S. fiscal cliff, automatic tax hikes and spending cuts due to come into effect on January 1 unless lawmakers can reach an agreement, which could threaten U.S. and global growth.
In Tokyo, the Nikkei dropped, weighed by worries over the risk of a recession in the world's largest economy.
Software maker Trend Micro tumbled 4.49% on expectations that its fourth-quarter earnings would remain weak after it posted a 17.2% year-on-year decline in third-quarter operating profit.
On the upside, Nippon Telegraph & Telephone surged 4.20% after the fixed-line operator unveiled its midterm management plan, even though it had also cut its operating profit forecast for the business year.
Meanwhile, shares in Hong Kong also trended lower, weighed by losses in financial and energy stocks.
China Construction Bank and oil major Petrochina were the worst performers, with shares dropping 0.86% and 0.58% respectively.
Meanwhile, Lenovo rallied 5.47% following second-quarter results, while Telecom hardware maker ZTE jumped 2.09%.
Elsewhere, Australian shares declined, after the Reserve Bank of Australia reduced its 2013 growth outlook to 2.75%.
Mining giants Rio Tinto and BHP Billiton were sharply lower, with shares tumbling 1.11% and 0.61% respectively.
Earthmoving equipment provider Emeco Holdings dove 16.94%, after the company said it saw challenging utilisation challenges in Australia due to lower commodities prices and subdued mining activity.
Looking ahead, European stock futures pointed to higher open, as attempts to reach a new bailout deal for Greece continue.
The EURO STOXX 50 futures pointed to a 0.57% increase, France’s CAC 40 futures climbed 0.47%, London’s FTSE 100 futures added 0.26%, while Germany's DAX futures pointed to a 0.44% rise.
Later in the day, France and Italy were to release official data on industrial production.
The U.S. was to produce preliminary data from the University of Michigan on consumer sentiment.
During late Asian trade, Hong Kong's Hang Seng Index tumbled 1.06%, Australia’s ASX/200 Index declined 0.49%, Japan’s Nikkei 225 Index dropped 0.9%.
Official data showed that consumer price inflation in China fell unexpectedly in October, ticking down 0.1% after a 0.3% increase the previous month. Analysts had expected consumer price inflation to rise 0.1% in October.
A separate report showed that industrial production in China rose by 9.6% last month, more than the expected 9.4% increase and following a 9.2% rise in September.
Overall market sentiment continued to be weighed by concerns over the U.S. fiscal cliff, automatic tax hikes and spending cuts due to come into effect on January 1 unless lawmakers can reach an agreement, which could threaten U.S. and global growth.
In Tokyo, the Nikkei dropped, weighed by worries over the risk of a recession in the world's largest economy.
Software maker Trend Micro tumbled 4.49% on expectations that its fourth-quarter earnings would remain weak after it posted a 17.2% year-on-year decline in third-quarter operating profit.
On the upside, Nippon Telegraph & Telephone surged 4.20% after the fixed-line operator unveiled its midterm management plan, even though it had also cut its operating profit forecast for the business year.
Meanwhile, shares in Hong Kong also trended lower, weighed by losses in financial and energy stocks.
China Construction Bank and oil major Petrochina were the worst performers, with shares dropping 0.86% and 0.58% respectively.
Meanwhile, Lenovo rallied 5.47% following second-quarter results, while Telecom hardware maker ZTE jumped 2.09%.
Elsewhere, Australian shares declined, after the Reserve Bank of Australia reduced its 2013 growth outlook to 2.75%.
Mining giants Rio Tinto and BHP Billiton were sharply lower, with shares tumbling 1.11% and 0.61% respectively.
Earthmoving equipment provider Emeco Holdings dove 16.94%, after the company said it saw challenging utilisation challenges in Australia due to lower commodities prices and subdued mining activity.
Looking ahead, European stock futures pointed to higher open, as attempts to reach a new bailout deal for Greece continue.
The EURO STOXX 50 futures pointed to a 0.57% increase, France’s CAC 40 futures climbed 0.47%, London’s FTSE 100 futures added 0.26%, while Germany's DAX futures pointed to a 0.44% rise.
Later in the day, France and Italy were to release official data on industrial production.
The U.S. was to produce preliminary data from the University of Michigan on consumer sentiment.