CANBERA (dpa-AFX) - Asian stocks ended mixed on Friday, with Chinese and Japanese shares leading regional gains, while markets in Australia, Hong Kong and South Korea retreated ahead of the inauguration of U.S. President-elect Donald Trump later in the day.
Investors also digested a raft of Chinese economic data, dovish comments from European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen's speech in California about the state of the U.S economy.
China's Shanghai Composite index climbed 21.84 points or 0.70 percent to 3,123.14 as a slew of economic reports released by the country's statistics agency offered fresh signs of stability in the world's second-largest economy. Hong Kong's Hang Seng index was down 164 points or 0.71 percent at 22,885 in late trade.
China's GDP grew an annual 6.8 percent in the fourth quarter, slightly beating expectations, boosted by higher government spending and record bank lending, official data showed. Retail sales figures for December came in slightly above forecasts while industrial production and fixed-asset investment grew at a slower but still solid pace in the month.
Japan's Nikkei index recovered from a weak start to close 65.66 points or 0.34 percent higher at 19,137.91. The broader Topix index closed 0.35 percent higher at 1,533.46.
Panasonic added 1.3 percent after the company said it hopes to extend its partnership with electric car maker Tesla beyond batteries and into self-driving technology. Brewer Kirin Holdings also gained 1.3 percent on reports that Netherlands-based Heineken is in advanced talks to buy Kirin's Brazilian unit.
Embattled air bag maker Takata Corp plunged 21 percent to extend losses from the previous session in the wake of media reports suggesting that its bidders are pushing for a court-mediated turnaround for its domestic business.
Australia's S&P/ASX 200 index fell 37.40 points or 0.66 percent to 5,654.80, taking its weekly loss to 1.2 percent. The broader All Ordinaries index dropped 35.70 points or 0.62 percent to 5,709.70 despite upbeat housing data, which showed that new home sales bounced strongly in November following a drop to a two-year low in October.
Financials led the decliners, with the big four banks closing down between 0.9 percent and 1.6 percent. Miners BHP Billiton, Fortescue Metals Group and Rio Tinto lost 1-2 percent after iron ore and copper prices declined overnight.
CSL advanced 2.8 percent after upgrading its profit forecast. OrotonGroup shares slumped nearly 14 percent as the luxury handbag and accessories maker reported a drop in its first half year sales for 2017. Shaver Shop Group soared 12.3 percent after unveiling its December sales figures.
South Korea's Kospi average dropped 7.18 points or 0.35 percent to 2,065.61 as investors looked for clues in Trump's inaugural speech. Retailers were in focus, with Lotte Group shares rallying over 5 percent while Lotte Confectionery climbed 9.9 percent.
New Zealand shares edged lower in quiet trading even as Standard & Poor's affirmed the country's AA foreign currency rating and AA+ local currency long-term sovereign credit rating, citing the economy's solid growth and the Crown's fiscal prudence. The benchmark S&P/NZX 50 index slid 13.89 points or 0.20 percent to 7,048.47.
India's Sensex was down 0.9 percent after two straight sessions of gains as Axis Bank, the country's third largest private sector lender, reported weak quarterly results. Indonesia's Jakarta Composite index was declining 0.8 percent while benchmark indexes in Malaysia, Singapore and Taiwan were up between 0.1 percent and 0.2 percent.
Overnight, U.S. stocks finished lower despite encouraging economic data on jobless claims, housing starts and regional manufacturing activity. The Dow dropped 0.4 percent to extend losses for the fifth consecutive session and hit its lowest level in over a month, while the tech-heavy Nasdaq slid 0.3 percent and the S&P 500 shed 0.4 percent.
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