Asian stocks mixed, mostly flat

Asian stocks mixed, mostly flat

SYDNEY, NSW, Australia-stocks in Asia were mixed but mostly flat on Friday.

The Nikkei 225 did the best in Japan, closing 111.66 points or 0.40 percent higher at 27,914. China's Shanghai Composite fell by 2.03 points or 0.06 percent to 3,269. The Australia All Ordinaries dropped by 6.60 points or 0.09 percent to 7,011. In New Zealand, the S&P NZX 50 fell 6.57 points or 0.06 percent to 11,263. The Hang Seng was ahead 34 points at the time of writing.

After the European Central Bank raised official interest rates by 50 basis points, the euro fell sharply Friday to finish the Asian zone around 1.0138 after a major burst on Thursday.

The British pound dropped to 1.1928. The Swiss franc eased a bit to 0.9686.

The Canadian dollar was little changed at 1.2881. The Australian dollar dropped but held on to most of its recent gains to close Friday in Sydney around 0.6908. The New Zealand dollar was off its highs but was strongly bid at 0.6228.

Overnight, the Standard and Poor's 500 climbed 39.05 points, or 0.99 percent, to 3,998 on Wall Street. The Nasdaq Composite rallied 161.96 points, or 1.36 percent, to 12,059. The Dow Jones Industrial Average increased by 162.06 points, or 0.51 percent, to 32,036.