Asian stocks retreated in subdued trade on Friday after Wall Street took a breather from its surge since the U.S. election, while the dollar hovered below the 14-year high set earlier this week.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS, fell 0.4 percent to a five-month low. It was heading for a drop of 1.8 percent in its second consecutive week of declines.
Dec 23 China stocks ended the week on a bearish note, with the key CSI300 Index hitting a two-month closing low to cap its third straight week of declines, as concerns of tighter regulatory supervision weighed on brokerages and insurers.
The blue-chip CSI300 Index fell 0.8 percent, to 3,307.44 points, the lowest since Oct 17, while the Shanghai Composite Index lost 0.9 percent, to 3,110.00 points.
Hong Kong stocks fell for the second consecutive week, closing at a five-month low on the last trading day before the Christmas break, as rosier U.S. growth data deepened fears of money flowing out of emerging markets.
The Hang Seng index fell 0.3 percent, to 21,574.76, the lowest closing level since mid-July. The China Enterprises Index lost 0.2 percent, to 9,181.75 points.
Reference: Reuters
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