CANBERA (dpa-AFX) - Asian stocks ended mixed in thin-pre-Christmas trading on Friday. Underlying sentiment remained supported somewhat after China unveiled a new list of import tariff exemptions for six chemical and oil products from the United States and U.S. Treasury Secretary Steven Mnuchin said the two sides would sign their so-called Phase one trade pact at the beginning of January.
Chinese shares ended lower but posted their third straight weekly gain on expectations of a growth recovery and a potential thawing in U.S.-China trade relations ahead of the 2020 U.S. presidential election.
The benchmark Shanghai Composite index dropped 0.40 percent to 3,004.94 while Hong Kong's Hang Seng index finished 0.25 percent higher.
China retained its benchmark lending rates, as widely expected, today, after lowering it last month. The one-year loan prime rate was retained at 4.15 percent and the five-year loan prime rate at 4.80 percent. The rate was last reduced in November, which was the first reduction since the new lending rate was introduced.
Japanese shares fell on profit taking ahead of the year-end holiday. The Nikkei average gave up 48.22 points, or 0.20 percent, to end at 23,816.63, while the broader Topix index closed 0.18 percent lower at 1,733.07.
Large-caps succumbed to profit taking after recent gains, with Toyota Motor, Sony and Fanuc giving up 1-2 percent.
Nuflare Technology Inc slumped 9 percent after Toshiba Corp said it does not feel threatened by Hoya Corp's counter offer for Nuflare.
Homebuilder Hosoda Corp soared 17 percent after condominium builder Haseko Corp announced a tender offer on Hosoda.
In economic releases, Japan's consumer price inflation accelerated in November after the sales tax hike but remained well below the central bank target, official data showed.
Core inflation that excludes fresh food rose to 0.5 percent in November from 0.4 percent in October, matching expectations. Overall consumer price inflation also came in at 0.5 percent, up from 0.2 percent a month ago and in line with the forecast.
Australian markets inched lower, with financials and healthcare companies pacing the decliners as investors avoided making big bets ahead of the Christmas break.
The benchmark S&P/ASX 200 index dropped 16.80 points, or 0.25 percent, to 6,816.30 while the broader All Ordinaries index ended down 18.20 points, or 0.26 percent, to 6,924.40.
Lender Westpac Banking Corp shed 0.6 percent to extend losses for a fourth consecutive session. The other three banks fell between 0.4 percent and 0.6 percent.
Mining giant Rio Tinto advanced 1.4 percent while BHP and Fortescue Metals Group ended on a flat note.
Seoul stocks closed at their highest level in nearly eight months as worries about a possible U.S. government shutdown abated and U.S. Treasury Secretary Steven Mnuchin said the U.S.-China trade deal was completely finished and just undergoing a technical 'scrub'. The benchmark Kospi edged up 0.35 percent to 2,204.18.
New Zealand shares ended little changed with a positive bias after hitting a record high the previous day. Sky Network Television jumped 5.7 percent to extend gains after the television broadcaster agreed to buy entertainment streaming service Lightbox and merge it with its own entertainment streaming service Neon.
Malaysia's KLSE Composite index was marginally lower after the release of tepid inflation data.
Indonesia's Jakarta Composite index was down 0.1 percent after the country's central bank left its interest rates unchanged for the second straight meeting.
The Taiwan Weighted dropped half a percent. Taiwan's central bank left its key interest rate unchanged for the fourteenth straight meeting, and raised its economic growth projections.
U.S. stocks climbed to new record highs overnight, oil topped $61 a barrel and Treasuries edged higher after China said it would exempt 16 categories of U.S. products from tariffs.
The Dow Jones Industrial Average and the S&P 500 rose around half a percent while the tech-heavy Nasdaq Composite advanced 0.7 percent.
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