Asia report: Markets mostly higher amid slew of Japan data

Markets in Asia were largely in the green on Friday, as investors were left with a slew of data from Japan to sift through on the last trading day of the quarter.

In Japan, the Nikkei 225 was down 0.03% at 20,356.28, as the yen weakened 0.13% against the dollar, last trading at JPY 112.49.

Economic data was at the top of the agenda in Tokyo, with the country’s core consumer prices rising 0.7% year-on-year in August - the eighth month in a row of increases.

Retail sales were up 1.7% year-on-year, well off consensus forecasts for a 2.6% rise.

Industrial production beat analyst estimates, however, rising 2.1% year-on-year in August, compared to forecasts for a 1.9% improvement.

Toshiba finally put pen to paper in the sale of its valuable memory chip division, agreeing to sell it to a consortium led by Bain Capital for JPY 2trn.

The spanner that is Western Digital was once again in the works, however, with the American memory giant seeking an injunction to stop the sale, as it is in joint venture with Toshiba at a manufacturing facility.

Still, shares in Toshiba beat the Tokyo tech sector on Friday, rising 2.94%.

Restaurant group Genki Sushi was up 4.02%, after it announced it was to merge with Japan’s largest conveyor-belt sushi chain Akindo Sushiro.

On the mainland, the Shanghai Composite ended ahead 0.29% at 3,349.22, and the smaller, technology-heavy Shenzhen Composite was up 0.69% at 1,988.49.

South Korea’s Kospi was up 0.9% at 2,394.47, while the Hang Seng Index in Hong Kong ended the session 0.48% firmer at 27,554.30.

Carmakers were on the front foot in Seoul, with Hyundai Motor up 2.38% and Kia Motors ahead 2.59%.

The clampdown on cryptocurrencies extended to Korea during the day as well, with authorities banning initial offerings of new coins, citing the need to closely supervise virtual currency trade.

Oil prices were mixed during Asian trading, with Brent crude last up 0.07% at $57.45 and West Texas Intermediate dropping 0.04% to $51.54.

In Australia, the S&P/ASX 200 added 0.2% to 5,681.61, while New Zealand’s S&P/NZX 50 also gained 0.2% to 7,930.40.

Both of the down under dollars were weaker against the greenback, with the Aussie last off 0.29% at AUD 1.2764 and the Kiwi retreating 0.28% to NZD 1.3854.