Asian-Pacific markets retreated on Friday with traders turning their focus towards China's stimulus measures and U.S. inflation data.
By 11:40 am AEDT (12:40 am GMT) the ASX 200, Kospi 200 and Nikkei 225 fell 0.6%, 0.1% and 0.9%, respectively.
In Japan, the Bank of Japan's quarterly Tankan survey indicated improving business sentiment. The index for large manufacturers climbed to 14 in the December quarter, exceeding expectations of 12 and marking an improvement from 13 in the prior quarter.
U.S. markets dipped modestly as the November producer price index (PPI) recorded a 0.4% increase, slightly above analysts’ expectations. The data reinforced investor confidence that the Federal Reserve is likely to cut rates again.
The Dow Jones Industrial Average fell 0.5% to 43,914.1. The S&P 500 declined by 0.5% to 6,051.3, and the Nasdaq Composite dropped 0.7% to 19,902.8.
Notable stock movements included Warner Bros. Discovery, which surged 15.4% on restructuring plans, and Adobe, which fell 13.7% after a weaker-than-expected outlook.
In commodity markets, Brent crude slipped 0.1% to US$73.45 per barrel, while gold fell 1.3% to $2,682.19 per ounce.
Major Asian indices closed higher on Thursday after China reaffirmed its commitment to economic stimulus during a high-level meeting. The Shanghai Composite rose 0.8% to 3,461.5, while the Shenzhen Composite gained 1.1% to 2,112.9.
Hong Kong’s Hang Seng Index increased by 1.2% to 20,397.1.
However, India’s BSE Sensex fell 0.3% to 81,290.0.
European stocks delivered mixed results. The U.K.’s FTSE 100 edged up 0.1% to 8,311.8, while Germany’s DAX also rose 0.1% to 20,426.3. France’s CAC 40 ended flat at 7,420.9.