Asian stock markets were muted Friday following weak economic data from Europe and moves by China's government to cool inflation pressures. According to AP, oil rose to just above $93 a barrel after two days of steep falls. The Asian heavyweight, Tokyo's Nikkei 225 index, opened down but recovered to gain 0.3 percent to 11,346.44 while in the region's biggest economy, China's benchmark Shanghai Composite Index rose 0.1 percent to 2,328.66. Seoul gained while Hong Kong, Singapore and Taipei suffered declines. Australia's ASX/S&P 200 added 0.8 percent to 5,018.10, recovering from Thursday's 2.3 percent plunge. The Shanghai index slid 3 percent Thursday for its biggest decline in 15 months after Beijing announced new measures to cool politically sensitive housing costs. Also this week, the central bank drained liquidity from markets in a sign it is trying to restrain pressure for prices to rise as the economy gradually recovers. Seoul's Kospi fell 0.1 percent to 2,014.08. Hong Kong's Hang Seng shed 0.4 percent to 22,803.72 and Taipei's Taiex lost 0.1 percent to 7,951.63. Singapore fell 0.2 percent and India's Sensex was little changed.
