Asian stocks mostly decline with Hong Kong and Shanghai up

Asian stocks mostly decline with Hong Kong and Shanghai up

On Friday, Asian stocks mostly slid, with China bucking the trend because market participants look ahead to a gathering of top finance officials from the world's key economies this weekend in Italy.

The Nikkei 225 lost 0.63%, South Korea's Kospi tumbled 0.54%. Additionally, Australia's benchmark S&P/ASX 200 index went down 1%.

The Shanghai Composite soared 0.39%, while Hong Kong's Hang Seng Index tacked on 0.07%.

In retail stocks were mixed following softer lead from American retailers in the prior session, with South Korea's Lotte Shopping inching up 2.73%, although Australian retailers mostly dived. As for Myer stocks, they lost 2.55% and Harvey Norman decreased 2.8%.

Overnight, American stocks concluded lower, driven by a dip in retail stocks, after Macy reported dismal quarterly results, while stocks of Snap edged down 21%.

The Dow Jones Industrial Average showed 20,919.42, tacking on 0.11%. As for the S&P 500, it slid 0.19%, while the Nasdaq Composite hit 6115.96, edging down 0.22%.


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