Investing.com – Asian equities were trading lower on Friday, as U.S. President Donald Trump was reportedly planning to remove his national security adviser Herbert Raymond McMaster, adding to the growing U.S. political uncertainties following the departure of former Secretary of State Rex Tillerson and top economic advisor Gary Cohn. A White House official said earlier in the day that no final decision has been made.
Meanwhile, worries over the investigation into the Trump Organization also weighed on stock markets after the New York Times reported that U.S. Special Counsel Robert Mueller was investigating whether elements of the Russian state interfered in the U.S. presidential election in 2016.
Overnight, the S&P 500 slipped 0.1%, marking its first four-day losing streak of 2018.
In Japan, Prime Minister Shinzo Abe is also under pressure for allegations of a cover-up in the government's controversial land sale. The Nikkei closed 0.4% lower. Bank of Japan’s governor Haruhiko Kuroda was approved for another five-year term after his current one ends in April.
China’s Shanghai Composite and Shenzhen Component opened higher but both traded in red in the afternoon, falling 0.2% and 0.3% respectively by 1:20pm ET. Reports that China is planning to launch depository receipts received some focus as it would allow top local technological firms that are listed outside mainland China to issue a form of shares on the mainland. Leshi Internet Info Tech (SZ:300104) plunged by their daily limit of 10% after its white knight chairman resigned.
Hong Kong’s Hang Seng Index slipped 0.2%. China Unicom Hong Kong Ltd (HK:0762) Hong Kong Ltd. jumped 1.8% after the company reported its net profit for 2017 that nearly tripled. Business magnate Li Ka-shing was in focus as his four biggest firms are due to report earnings today, while investors speculated that he might reveal his retirement.
Down under, Australia's S&P/ASX 200 closed 0.5% higher. Equifax (NYSE:EFX) made headlines after reports on Friday suggested the country’s competition regulator said it was suing the company, claiming it misinformed consumers and used “unfair tactics” with people in financial hardship. The allegation marked the second legal challenge this week involving the Atlanta-based company.
Elsewhere, Singapore’s non-oil exports dropped 5.9% YoY in February, the biggest decline since October 2016.