By Malvika Gurung
Investing.com -- Asian markets faltered on Friday and observed a weak trading session despite an uptick witnessed on Wall Street in the overnight session, as investor concerns on the banking turmoil in the US and Europe continued to loom, while worries over a slowing economic growth loomed.
Fresh comments from US regulators did little to boost sentiments and failed to quell fears of a financial crisis, while global investors weighed fresh interest rate hikes by major central banks and signs of a possible pause in US monetary tightening.
South Korea’s benchmark index KOSPI declined 9.52 points or 0.39% in Friday’s trade to close the week at 2,414.96 levels.
China’s Shanghai Composite fell 21 points or 0.64% and Shanghai Shenzhen CSI 300 slid 0.3% in the session, as sentiments worsened after Evergrande Group's debt restructuring plan failed to impress investors.
Hong Kong’s Hang Seng index dropped 0.61% or 122.14 points, while Japan’s Nikkei 225 dipped 0.13% or 34.36 points on Friday. Japan’s CPI inflation fell from over 40-year highs in February, rising 3.1% YoY and falling swiftly from 4.2% in January.
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