Asian stocks were mixed after an upbeat open on Thursday, as investors pinned their hopes on an economic rebound from the coronavirus crisis.
Shares rose in Tokyo, Sydney and Mumbai but dropped in Hong Kong, where tensions are flaring over Beijing's effort to exert more control over the former British colony.
While Hong Kong's role as regional trading centre and financial hub has been to a large extent sidelined by developments on the Chinese mainland, removing its special status would be a huge blow to businesses located in the city because of its independent financial and legal systems. Tokyo's Nikkei 225 index advanced 1.7% to 21,671.28, lifted by the latest, $1.1 trillion, infusion of stimulus for Japan's moribund economy. India's Sensex gained 1.2% to 31,985.18 and the S&P/ASX 200 in Sydney climbed 1.4% to 5,855.40.
The Bank of Korea has said the economy may shrink for the first time in 22 years. Its rate cut followed another two months ago, which was its first since 2008.
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