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Japan's Nikkei leads Asian market lower | |
(about 4 hours later) | |
Asian shares were mostly lower as data from the region's leaders, China and Japan, indicated weaker growth. | |
A Japanese survey showed its manufacturers were less optimistic between October and December and expected conditions to deteriorate. | |
Consumer confidence also fell in November for the fourth consecutive month with the index at its lowest level since April. | |
Meanwhile, China's inflation eased to a five-year low, below expectations. | |
That led Japan's Nikkei 225 to close down 2.3% to 17,412.58 - its lowest finish in almost two weeks. | |
The dollar slipped to 118.88 yen in afternoon trade, down from 119.63 yen in New York. | |
Bucking the trend were shares of budget airline Skymark, which surged over 17% after reports that it plans to seek help from All Nippon Airways (ANA) while in talks for an alliance with ANA's rival, Japan Airlines. | |
China reverses losses | |
In China, investors shrugged off the latest inflation data as shares headed higher. | |
The Shanghai Composite was up 1.9% to 2,911.01, while Hong Kong's Hang Seng index was up 0.4% at 23,588.38. | |
Shares of China's largest nuclear power producer, CGN Power jumped over 24% in its Hong Kong trading debut as investors bet on a government-backed sector set for growth. | |
In Australia, shares were lower after a private survey showed that consumer sentiment fell sharply in December, wiping out two months of gains. | |
The Melbourne Institute and Westpac Bank index dived a seasonally adjusted 5.7% in December from a 1.9% rise in November. | The Melbourne Institute and Westpac Bank index dived a seasonally adjusted 5.7% in December from a 1.9% rise in November. |
The benchmark S&P/ASX 200 closed down 0.5% at 5,259. | |
South Korean shares fell to a three-week low despite government data showing that its unemployment rate inched lower in November with new jobs created in the services and manufacturing sectors. | |
The jobless rate last month stood at 3.1%, down from October's 3.2%. | The jobless rate last month stood at 3.1%, down from October's 3.2%. |
The benchmark Kospi index closed down 1.3% at 1,945.56 points. |