Asian stock markets were mixed on Friday after Wall Street sank on worries about the health of US banks under pressure from interest rate hikes.
Taiwan and Sydney advanced, while Shanghai declined.
Markets in Japan and South Korea were closed because of holidays.
Wall Street’s benchmark S&P 500 index lost 0.7 percent on Thursday as investors worried about the health of banks following three high-profile failures in the US and one in Switzerland.
Shares of PacWest Bancorp, a target of investor scrutiny, tumbled 50.6 percent.
The bank said that it was considering options and has been approached by potential partners and investors.
Investors are watching what steps authorities might take to “limit further contagion risks,” IG market strategist Yeap Jun Rong (葉俊榮) said in a report. “Any inaction over the weekend could translate to a more downbeat risk environment to start next week.”
In Taipei, the TAIEX closed up 17.04 points, or 0.11 percent, at 15,626.07, increasing 0.3 percent from a week earlier.
Turnover totaled NT$180.935 billion (US$5.9 billion).
The Shanghai Composite Index shed 0.48 percent to 3,334.50, but posted a weekly gain of 0.34 percent, while Hong Kong’s Hang Seng rose 0.5 percent to 20,049.3, up 0.78 percent weekly.
Sydney’s S&P/ASX 200 rose 0.37 percent to 7,220.0, dropping 1.22 percent from a week earlier, while India’s SENSEX closed down 1.13 percent at 61,054.29 and lost 0.1 percent over the week.
Additional reporting by staff writer, with CNA
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