Asian markets mute as investors assess China data

Asian stocks were mixed Friday in holiday-thinned trading as investors digested uninspiring Chinese economic data, Donald Trump’s pick for next Fed chief and a US tax cut plan.

Hong Kong’s benchmark Hang Seng index rose 0.3 per cent to 28,607.12 while the Shanghai Composite in mainland China lost 0.8 per cent to 3,356.7.

South Korea’s Kospi was practically unchanged at 2,547.02 and Australia’s S&P/ASX 200 advanced 0.5 per cent to 5,959.90.

Southeast Asian benchmarks were mixed and Taiwan’s index rose. Japan’s markets were closed for a holiday.

Major US benchmarks had a mixed finish. The S&P 500 index edged up less than 0.1 per cent to close at 2,579.85 and the Dow Jones industrial average added 0.3 per cent to a record 23,516.26.

The Nasdaq composite crept less than 0.1 per cent lower to 6,714.94.

The dollar slipped to 113.98 yen from 114.08 yen in late trading Thursday. The euro edged higher to $1.1663 from $1.1659.

Oil futures extended gains. US benchmark crude oil rose 23 cents to $54.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 24 cents to settle at $54.54 a barrel on Thursday.

Brent crude, the standard for international oil prices, picked up 17 cents to $60.79 a barrel in London.