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Asian markets mostly fall after Dow, oil prices pull back - MarketWatch

Asian markets trended down in early trading Friday, following a pullback by the Dow Jones Industrial Average and a continued drop in oil prices.

Japan’s Nikkei NIK, -0.54% fell 0.7% while Hong Kong’s Hang Seng index HSI, +0.13% edged up 0.2%. The Shanghai Composite SHCOMP, -0.54% declined 0.5% and South Korea’s Kospi SEU, -0.69% was down 0.4%. Stocks were about flat in Singapore STI, +0.01% and Indonesia JAKIDX, -1.16% , but down in Taiwan Y9999, -1.01% . Australia’s S&P/ASX 200 XJO, -0.08% was down slightly

Among individual stocks, Nintendo 7974, -0.96% slumped in Tokyo trading after issuing an “ultra-conservative guidance” for the year following earnings. SoftBank 9984, -0.95% also fell, while Yahoo Japan 4689, +2.75% jumped. In Hong Kong, Country Garden 2007, +2.58% and AAC Technologies 2018, +2.10% rise while CNOOC 0883, -1.64% slipped. Shares of Hong Kong Airlines parent HNA Group 600221, -1.38% fell amid a battle for control of the company . LG Electronics 066570, -3.12% and SK Hynix 000660, -2.24% declined in South Korea, as did Taiwan Semiconductor 2330, -2.99% in Taiwan. Beach Energy BPT, -2.03% and Fortescue Metals FMG, -4.74% dropped in Australia.

Oil prices pulled back from multi-month highs Thursday, and U.S.-based West Texas Intermediate crude for June delivery CLM9, -0.38% and June Brent crude LCOM9, -0.12% , the global benchmark, continued to slide Friday.

“End of U.S.-Iran sanctions waivers are still the principle focus,” Stephen Innes, head of trading at SPI Asset Management, said in a note. “But perhaps price action was a bit to too enthusiastic.”