a man wearing a face mask is seen inside the shanghai stock exchange building as the country is hit by a novel coronavirus outbreak at the pudong financial district in shanghai china february 28 2020 reutersaly song hong kong nov 19 reuters  asian shares fell on friday as disappointing earnings from chinese ecommerce giant alibaba heightened worries about beijings broad regulatory crackdown and slowing growth in the worlds secondbiggest economy that saw the region lag a solid wall street performance overnight with mscis broadest index of asiapacific shares outside japan miapj0000pus off 044 and set for a weekly decline of 12 tokyos nikkei n225 outperformed however rising 040 after japanese prime minister fumio kishida announced a fresh stimulus package with spending worth around 56 trillion yen 490 billion overnight the sp 500 and nasdaq ixic notched record closing highs boosted by upbeat corporate earnings news from companies including nvidia nvdao but the tone was more subdued in asia with the hong kong benchmark hsi down sharply 15 dragged down by index heavyweight alibaba 9988hk the chinese ecommerce firms shares tumbled over 10 after its secondquarter results missed expectations due to slowing consumption increasing competition and a regulatory crackdown read more the decline reflects slowing growth in china this year analysts said while a broad monthslong regulatory crackdown by beijing across many sectors including property and technology have weighed on investor sentiment more generally chinese economic data over recent months have also underlined a loss of growth momentum with the outlook over the next 12 months more subdued than at the start of the year following substantial slowdown of national bureau of statistics retail data for the past two months it is not surprising to us that alibaba printed a missed quarter said citi analysts in a note lowering their target price on the stock turmoil in chinas property sector which is struggling with a heavy debt burden and a squeeze on liquidity amid beijings crackdown also remain a drag on broad global sentiment hong kong shares of country garden services holding 6098hk the property management unit of chinese developer country garden 2007hk plunged 16 after it raised hk8 billion 1 billion in a share sale chinese blue chips csi300 were flat as was much of the region elsewhere major currencies were largely quiet with the dollar sitting just below a 16month high hit against a basket of its peers earlier in the week frx the yen hardly reacted to the governments stimulus news and was headed for a small weekly loss though at 11427 per dollar it has also recovered since touching an almost fiveyear low of 11497 a few days ago in emerging markets a gathering currency crisis in turkey has driven the lira to a record low after the central bank  facing political pressure  cut rates despite inflation running near 20 read more us benchmark treasury yields were steady at 15924 the ust market is consolidating within recent ranges is awaiting new catalysts to shift valuations  there is a lot already in the price and as a result progress toward higher yields is likely to be slow and defined by momentum shifts and sentiment swings said analysts at westpac in a note oil prices were steady in early asia us crude was flat at 79 a barrel brent crude rose 006 to 8133 per barrel on thursday oil fell to sixweek lows after reuters reported citing sources that the biden administration asked some of the worlds largest oil consuming nations  including china india and japan  to consider releasing crude stockpiles in a coordinated effort to lower global energy prices read more