© Reuters.
Investing.com– Most Asian stocks fell on Friday following weak economic signals from Japan and the euro zone, while steep losses in index heavyweight Chow Tai Fook Jewellery dragged Hong Kong’s Hang Seng index lower.
Trading volumes were muted, while markets also saw little overnight cues on account of a U.S. market holiday. Most regional bourses were also set to end the week unchanged as markets grew uncertain over the path of U.S. interest rates in the coming year.
The was the worst performer among its peers on Friday, down 1.5% on a 11% slump in shares of luxury goods retailer Chow Tai Fook Jewellery Group Ltd (HK:). The retailer, which is part of the Chow Tai Fook Group conglomerate, clocked strong earnings growth for the six months to Sept 30.
But uncertainty over succession plans for the group, coupled with concerns of slowing demand for luxury goods in China and Hong Kong largely offset the stronger earnings. Real estate firm New World Development Co Ltd (HK:), which is also part of the conglomerate, fell 0.6% in Hong Kong trade.
Broader Chinese stocks also fell as shares of major property developers saw some profit taking after a strong week….
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