Hong Kong Stocks End The Week On A Low

Hong Kong shares finished lower on Friday, erasing the week's gains after US equities slipped overnight on disappointing earnings reports.

The Hang Seng Index fell 0.7 percent, to 28,397 – down 0.3 percent for the week.

On the mainland, the Shanghai Composite Index clsoed with a small gain, up 0.2 percent, at 2,944 while the Shenzhen Composite Index closed flat, at 1,573.

Tokyo was down 0.5 percent at close as investors went into profit-taking mode ahead of the weekend, ending a three-day winning streak.

Beleaguered automaker Nissan was off 3.2 percent after announcing a 95-percent plunge in quarterly net profit and the shedding of 12,500 jobs on Thursday.

Singapore and Taipei were both down while Sydney pared Thursday's gains on the back of central bank chief Philip Lowe hinting at further rate cuts, finishing 0.4 percent down after Australia's competition watchdog called for measures to better police internet giants Google and Facebook.

The euro hit two-year lows before rallying Thursday after the ECB signalled it could soon undertake new stimulus measures and cut rates to boost flagging growth and inflation in Europe.

But "the lack of detail alongside a lack of urgency, notwithstanding an explicit acknowledgement of things getting worse, looks to have disappointed the market," said National Australia Bank's Rodrigo Catril. (AFP)