2013.09.1304:28:46UTC+00Asia stocks mixed; declining yen helps Tokyo

Australian stocks drop on Friday trading action, while a declining yen supported Japanese shares development, at the end of a week that saw substantial advances across Asia.

Stocks across Asia displayed healthy returns since last Friday, as further indications of an economic recovery in China combined with lower expectations of U.S. military intervention in Syria supported regional risk sentiment.

Notable events during the week include Australia closing at a more than five-year high on Wednesday and the Shanghai Composite enjoyed its biggest percentage gain so far in 2013 on Monday.

The Shanghai Composite has bolstered 5.4% so far this week, while Australia’s S&P/ASX 200 advanced 1.3%.

Some of the best performers were in Southeast Asia, where markets have had a turbulent summer — the result of fears that the U.S. Federal Reserve could scale back its bond-purchasing program, which induced several sell-offs as investors pulled money out of these small markets.

Indonesia’s JSX surged 7% week-to-date and Thailand’s SET in a 4.6% uptrend over the same period.

On Friday, a negative lead from Wall Street and a lack of regional trading cues weighed on Australia and South Korea. Markets are already anticipating next week’s Fed policy meeting, where some expect the central bank to start removing stimulus.

Australia’s S&P/ASX 200 decline 0.6% and South Korea’s Kospi traded 0.2% lower.

Japan’s Nikkei managed to make a slight gain on Friday, jump 0.2%, supported by a mildly weaker yen. The dollar managed to clinch back some of its overnight misses versus its Japanese counterpart early on Friday — last at ¥99.63, compared with ¥99.53 late Thursday in New York.

Convenience store operator Seven & I Holdings Co. stepped 1% higher after a Nikkei report said that the firm’s consolidated operating profit for the fiscal half year ending Aug. 31 will probably rise to a record high.