Nikkei "bounces" the trade war and adds two weeks of gains

TOKYO.- The stock market of A sia closed the last day of the week with a mixed trend, while the Seoul market remained closed for holidays.

The Tokyo Stock Exchange fell after a decline in the Chinese currency at the beginning of the session raised concerns about the stability of the world's second largest economy, which faces risks of the tariff war with the United States.

The Japanese Nikkei index was down 0.29% to 22 thousand 697.88 points, while the general index Topix fell 0.26% to thousand 744.98 points. However, both referees scored their second week of gains.

The losses were driven by a liquidation of Nikkei futures contracts after the yuan weakened to about 6.8 units per dollar in offshore operations for the first time this year. But a rebound in the Chinese currency later in the day reduced pressure on the Japanese stock market.

Steelmakers, non-ferrous mining companies and shipping companies – regular victims of trade wars – led losses with respective losses of 1.3%, 1.7% and 1.4%.

Chinese stocks rose nearly 2% and managed to erase the week's losses as investors borrow money from banking papers after media reports suggest Beijing is preparing to ease management rules badets of the lenders.

The CSI300 index of Chinese favorite shares rose 1.9% to 3 thousand 492.89 points, while the composite index of Shanghai rose 2 % to 2 thousand 829.27 points.

The 21st Century Business Herald reported Friday that China would soon release detailed rules for the management of bank badets (WMP), although it is not yet clear whether these products could invest in the secondary market.

Investors viewed the report as a sign that the new rules will be less rigid than expected, boosting financial sector shares by more than 4%.

For its part, the Hong Kong Stock Exchange closed with gains and its benchmark, the Hang Seng, rose 0.76% to close the week to 28 thousand 224.48 full.

However, in the sum of the week, the figures did not favor the Hang Seng, recording a cumulative decline of 1.05%.

The Singapore Index
, the emrcado fell by 0.35% and its Straits Times index
It was placed at 3 thousand 532.86 units. With Reuters and Notimex information.