On Friday, Asia shares traded lower as the economic data of China turned out worse than expectations. It deepened worries for the world’s second largest economy. China announced that the industrial production grew up by 5.4 percent in November, which is lower than 5.9 as projected by the Reuters.
In China, retails sales gained 8.1 percent than the expected 8.8 percent in the last month, which has shown the weakest pace as per Reuters’ data since 2003. Over in Greater China, shares were down as the Hang Seng index of Hong Kong slipped 1.37 percent, the Shenzhen Composite weakened by 0.57 percent, while the Shanghai Composite declined 0.932 percent.
Australian markets were also down as the ASX 200 dropped 0.84 percent. Also, the Australian dollar traded lower at 0.7190 against the U.S. dollar as dropped from yesterday’s 0.7226. Over in South Korea, the Kospi index dipped 1.27 percent.
In Japan, markets were in the negative territory as well. The Nikkei 225 was down by 1.42 percent and the Topix index slipped 0.96 percent. The Japanese yen was at 113.49 against the U.S. dollar. The dollar index that tracks the greenback against major currencies traded at 97.123, which is slightly higher than 97.064 of the previous session.
The euro dropped after the European Central Bank’s announcement that it is going to end a crisis-era bond-buying program at the end of December, where bond purchases will fall from 15 billion euros to zero. However, the euro was flat at 1.1359 against the dollar.
In the United States, the Dow Jones Industrial Average gained 70.11 points to end the session at 24,597.38 after swinging between the negative and positive territory throughout the day. However, the Nasdaq Composite and S&P 500 closed at 7,070.33 and 2,650.54 respectively after falling marginally. Shares of Alphabet and Amazon gave up their preliminary gains.