Asian stocks drift as yuan stable for second day

Asian stock markets drifted Friday as China's currency stabilised for a second day, easing uncertainty about its direction after an unexpected devaluation earlier in the week. Japan's Nikkei 225 was down 0.2 per cent to 20,520.50 while Hong Kong's Hang Seng rose 0.2 per cent to 24,064.55. China's Shanghai Composite Index added 0.8 per cent to 3,987.57. Australia's S&P/ASX 200 was down 0.6 per cent to 5,358.40. Financial markets in South Korea were closed for a holiday. Singapore's index gained but other Southeast Asian markets were lower. The dollar was buying 6.4 yuan. The yuan fell about 3 per cent this week, according to AP.
-SRS