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Asian shares finish lower, US GDP eyed

Asian stocks drop

Most Asian stocks finished lower on Friday on renewed worries over global growth, ahead of the release of the first-quarter GDP from the United States.

The Shanghai Composite index ended 1.2 percent down at 3,086.40 points, while Hong Kong's Hang Seng was 0.19% higher at 29,605.01.

The South Korean Kospi Index subtracted 0.51% to 2,179.31 points and Australia's S&P/ASX 200 index augmented 0.05% to 6,385.60.

In Japan, Nikkei 225 index edged down 0.22 percent to 22,258.73 after a report showing an unexpected drop in Japanese industrial production.

Japan’s industrial output plunged at its fastest pace in almost four years in March, falling 0.9 percent on the month, thereby adding to concerns regarding world growth.  

Overnight, the U.S. Dow Jones index slipped 0.51 percent and the S&P 500 inched 0.03 percent lower, whilst the heavy-tech Nasdaq Composite tacked on 0.21 percent after the release of upbeat earnings from technology firms, led by Amazon.  

Later in the day, eyes will focus on the U.S. growth during the first quarter of this year, where analysts are predicting an annualized 2.3 percent expansion. That would be slightly higher than the fourth quarter’s growth of 2.2 percent but will remain short of President Donald Trump’s 3 percent growth target.

The dollar index traded slightly lower at 97.84 after hitting a multi-month high of 98.04 on Thursday, as of 09:50 GMT.

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