Hong Kong - Equities in Hong Kong and Shanghai extended their rally Friday on hopes for new economy-boosting measures from China, but most other Asian markets retreated following more weak US data and losses on Wall Street.
The dollar lost ground as the chances of a summer US interest rate hike slimmed after disappointing jobs and housing figures, while the euro managed to hold up despite new worries about Greece's eurozone future.
In the afternoon Shanghai climbed 2.37 percent and Hong Kong added 0.22 percent.
But Tokyo tumbled 1.17 percent, or 232.89 points, to close at 19,652.88, Sydney sank 1.28 percent, or 76.00 points, to 5,871.50 and Seoul added 0.17 percent, or 3.60 points, to 2,143.50.
A string of poor Chinese indicators have fuelled a rally in Shanghai's benchmark index over the past year and now mainland investors are turning their attention to Hong Kong, buying what they consider cheap assets.
The southward flood of cash saw turnover in Hong Kong hit record highs twice last week as traders make the most of a link-up between the city's exchange and the bourse in Shanghai.
Wednesday's news that the Chinese economy grew at its slowest quarterly pace in six years has reinforced expectations that Beijing will announce new easing measures.
The yen advanced against the dollar after US data showed housing starts rose less than expected in March, while initial jobless claims, a sign of the pace of layoffs, increased well above estimates to their highest level in six weeks.
The Dow dipped 0.04 percent, the S&P 500 edged down 0.08 percent and the Nasdaq eased 0.06 percent.
The dollar bought 119.00 yen Friday against 119.04 yen in New York but down from 119.33 yen in Tokyo earlier Thursday.
In other markets:
-- Wellington fell 0.34 percent, or 20.28 points, to 5,861.48.
Fletcher Building slipped 1.65 percent to NZ$8.35 and Spark was down 1.37 percent to NZ$2.89.
-- Taipei slipped 0.89 percent, or 85.94 points, to 9,570.93.
Taiwan Semiconductor Manufacturing Co. shed 3.06 percent to Tw$142.5 while smartphone maker HTC slipped 2.64 percent to Tw$129.0.
AFP
