Asian Shares Mixed In Lackluster Trade

(RTTNews) - Asian stocks turned in a mixed performance on Friday as China industrial profits data disappointed and China Vanke proposed to delay repayment of an onshore bond, rekindling worries about China's property market.

Tech stocks led losses after Taiwan raided homes belonging to an Intel vice president as part of an investigation into alleged trade secret leaks to U.S. chipmaker Intel.

Gold was on track for its fourth monthly gain as the dollar weakened amid investor optimism that the Federal Reserve will cut interest rates in December.

Oil headed for the longest run of monthly losses in more than two years on oversupply concerns.

China's Shanghai Composite index edged up by 0.34 percent to 3,888.60 after JPMorgan Chase & Co. raised its recommendation for China's stocks to "overweight," citing multiple positive drivers.

Hong Kong's Hang Seng index slipped 0.34 percent to 25,858.89. Alibaba Group Holding shares rose 0.6 percent after the company launched its Quark AI-powered smart glasses in China, marking a major step into consumer AI hardware.

Japanese markets edged up slightly while the yen was little changed after data showed Tokyo consumer price index inflation remained unexpectedly elevated in November amid high food prices, keeping the Bank of Japan on track for an interest-rate hike in coming months.

Japan's unemployment rate in October came in at 2.6 percent, exceeding the market forecast of 2.5 percent. Industrial production rose 1.4 percent month-on-month, while retail sales increased 1.7 percent from a year earlier, separate data revealed.

The Nikkei average rose 0.17 percent to 50,253.91 while the broader Topix index settled 0.29 percent higher at 3,378.44.

Seoul stocks tumbled after the release of mixed economic data, with retail sales rising 3.5 percent month-on-month in October to end two straight months of negative readings, while industrial output posted its steepest decline in nearly six years in the month.

The Kospi average fell 1.51 percent to 3,926.59, snapping a three-day rally amid declines in tech and battery stocks. LG Energy Solution lost 6.9 percent, Samsung Electronics gave up 2.9 percent and SK Hynix shed 2.6 percent.

Australian markets ended a choppy session little changed after firmer jobs and inflation data dented hopes of near-term policy easing.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.42 percent to 13,489.15, rebounding from Thursday's losses.

U.S. markets were closed on Thursday in observance of the Thanksgiving holiday. Trading will reopen with shortened hours today, closing at 1 p.m. ET for Black Friday 2025.