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Global Stocks: Asian stock indices declined amid weak data
U.S. stock indices were closed on Thursday due to Thanksgiving Day.
This morning in Asia Hong Kong Hang Seng lost 1.23%, or 277.13, to 22,211.81. China Shanghai Composite Index fell 1.52%, or 55.37, to 3.580.18. The Nikkei declined 0.41%, or 82.12, to 19,862.29.
Asian indices fell weighed by Chinese data. According to government data Chinese industrial profits fell by 4.6% in October, intensifying investors' concerns over the country's slowing economic growth.
At the beginning of the session Japanese stocks advanced amid positive employment data released late Friday. The unemployment rate came in at 3.1% in October compared to 3.4% in September. Economists had expected the index to remain unchanged.
However less favorable October inflation data showed that the core consumer price index declined by 0.1% y/y in line with expectations. This is the third months of declines in a row.
Household spending fell by 2.4% y/y in October as consumers spent less on clothing, health care and education.
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