Hong Kong’s Hang Seng index fell more than 2% on Friday as tech stocks came under pressure.
In Japan, the Nikkei 225 retreated 13.84 points, or 0.1%, to 27,801.64.
Japan’s industrial output jumped 8.9% in June from the previous month, the ministry of economy, trade and industry said Friday. The print surprised to the upside after falling in May.
The Japanese yen strengthened sharply against the greenback on Friday, after weakening for months as central bank policy in Japan diverged from the U.S. Federal Reserve’s.
The yen last traded hands at 132.81 per U.S. dollar.
In Hong Kong, the Hang Seng index tumbled 466.17 points, or 2.3%, to 20,156.51. The Hang Seng Tech index dropped 5.4%.
Hang Seng heavyweights Alibaba fell 7% and Meituan dropped 7.2%. Alibaba is on track for a third straight session of losses following news earlier this week that several Ant Group executives have stepped down as Alibaba partners.
Meituan shares plunged after the company was summoned by Hangzhou’s market regulator over food safety and price competition.
Shares of Standard Chartered initially popped more 2% after the bank reported a 19% jump in profits for the first half of the year and announced a $500-million share buyback. The stock later pared gains, but was still up 0.7% in afternoon trade.
Real estate stocks in Hong Kong fell Friday.
The risk-sensitive Australian dollar also strengthened, and last stood at $0.7022.
In Shanghai, the CSI 300 lost 55.57 points, or 1.3%, to 4,170.10.
Chinese leaders on Thursday signaled Beijing is unlikely to try to boost the economy, and downplayed the country’s GDP target of “around 5.5%.”
In other markets
In Taiwan, the Taiex revived 108.17 points, or 0.8%, to 15,000.07.
In Singapore, the Straits Times Index subtracted 9.09 points, or 0.3%, to 3,211.56
In Korea, the Kospi acquired 16.23 points, or 0.7%, to 2,451.50
In Australia, the ASX 200 jumped 55.4 points, or 0.8%, to 6,845.15
In New Zealand, the NZX leaped 164.46 points, or 1.5%, to 11,492.65.