Asian stocks retreated on Friday as rising coronavirus cases, signs of a liquidity squeeze in China and persisting concerns over a retail trading frenzy in the United States triggered risk aversion.
Chinese shares ended lower as concerns over tight liquidity and loft valuations rattled investors. The benchmark Shanghai Composite Index slid 22.11 points, or 0.6 percent, to 3,483.07 despite the country's central bank injecting 100 billion yuan into the financial system. Hong Kong's Hang Seng Index ended down 267.06 points, or 0.9 percent, at 28,283.71.
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