Asia stocks mixed on data, easing speculation; Nikkei down 0.89%

Investing.com - Asian stock markets ended the session mixed on Friday, as a string of economic reports disappointed market expectations and sparked fresh expectations for additional stimulus measures by Asian governments.

During late Asian trade, Hong Kong's Hang Seng Index climbed 0.40%, Australia’s ASX/200 Index inched up 0.06%, Japan’s Nikkei 225 Index dropped 0.89%.

Markit research group said earlier that Japan's manufacturing purscasing managers' index ticked up to 48 in September from a reading of 47.7 the previous month, but remained in contraction territory for the fourth consecutive month.

Industrial production in Japan tumbled 1.3% in August, according to preliminary data, far more than the expected 0.5% drop and following an upwardly revised 1% decline the previous month.

A separate report showed that Tokyo's core consumer price inflation, which excludes fresh food, fell more-than-expected by 0.4% in September, after a 0.5% decline the previous month.

Official data also showed that household spending in Japan climbed by 1.8% in August, more than the expected 1% rise and following a 1.7% jump the previous month.

Meanwhile, Japan's retail sales rose unexpectedly by 1.8% in August, after a 0.8% fall the previous month.

Separately, Fitch ratings agency warned that it is likely to downgrade China's credit rating in the next 12 to 18 months as the central government takes over bad debt from banks and struggling local governments.

In Tokyo, the Nikkei dropped as disappointing economic data weighed.

Some stocks outperformed their pairs however, such as Gree, jumping 3.40% after a report that NTT DoCoMo planned to launch a competing social gaming network for mobile devices in November, while rival DeNa advanced 0.93%.

Steel makers were mostly higher, after Baoshan Iron & Steel, China's biggest listed steelmaker, said it had halted production at a loss-making plant. Nippon Steel added 0.63% and Kobe Steel surged 3.33%, while JFE dropped 0.68% on the other hand.

Meanwhile, shares in Hong Kong were boosted by strong gains in energy and financial stocks.

China Shenhua Energy rallied 1.10% and Petrochina gained 0.69%.

China Construction Bank advanced 0.93%, while Bank of China jumped 1.02% and the Industrial and Commercial Bank of China surged 1.33%.

Elsewhere, Australian shares edged higher, but remained under pressure amid concerns over a further global economic slowdown in China.

Mining stocks were mixed, as shares in Newcrest Mining soared 3.33% and BHP Billiton eased up 0.06%, while Rio Tinto dropped 0.43%.

Financial stocks added to gains, as shares in Westpac Banking added 0.20%, while ANZ Banking and National Australia Banking rose 0.32% and 0.24% respectively.

Looking ahead, European stock futures pointed to a mixed open.

The EURO STOXX 50 futures pointed to a 0.54% gain, France’s CAC 40 futures fell 0.10%, London’s FTSE 100 futures rose 0.32%, while Germany's DAX futures pointed to a 0.49% rise.

Later in the day, the euro zone was to publish preliminary data on consumer price inflation.

The U.S. was to release official data on personal income and spending, as well as data on personal consumption expenditures and an index of business activity in the Chicago area. In addition, the University of Michigan was to release revised data on consumer sentiment and inflation expectations.