Sydney sheds 0.1%
Australian shares erased earlier gains of nearly 0.5 percent to edge lower on Friday, on mixed earning reports. The benchmark S&P ASX 200 index had seen its biggest one-day loss in three weeks on Thursday, as flagship carrier Qantas' dismal earnings report weighed on sentiment.
Qantas Airways recovered from a 9 percent slump to claw back 0.9 percent. Rival Virgin Australia recovered from losses to trade unchanged, as a bruising price war with rival Qantas took a toll, resulting in a pre-tax loss of A$49.7 million ($44.55 million) for its fiscal first half.
Australian supermarket and grocery store chain Woolworths dropped 1 percent, despite interim net profit beating expectations to rise 14.5 percent.
Banking stocks dwindled in the red; Commonwealth Bank of Australia fell 0.8 percent while Westpac and National Australian Bank dropped 0.2 and 0.7 percent each.
South Korean shares hovered near modest gains and losses all day and eventually eked out 0.08 percent gain to end in the green. Concerns about China and its weakening yuan had weighed on sentiment.
Blue-chip stocks were mainly down; Posco and Kepco pulled down the bourse with over 1 percent falls respectively.
Outperforming the bourse was Naver which rose 3 percent. The stock has been moving on reports earlier this week that SoftBank is seeking to buy a stake in Naver's mobile-messaging service Line.
SK Holdings continued to trade in positive territory with a 1 percent gain, despite its chairman Chey Tae-won receiving a four-year prison sentence for embezzlement on Thursday. This was one of the longest confirmed prison terms for a business leader in South Korea.
India rises 0.6%
Indian shares finished near a five-week high, ahead of the release of its third-quarter gross domestic product (GDP) data later in the day.
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