Asia-Pacific shares struggle for direction in mixed trading day; bitcoin drops below $50,000

SINGAPORE — Stocks in Asia-Pacific were mixed in Friday trade, with the price of bitcoin tumbling below $50,000.The Nikkei 225 in Japan fell 0.75% in afternoon trade while the Topix index shed 0.55%. Earlier, the Nikkei 225 had fallen more than 1%. South Korea's Kospi was slightly lower.Mainland Chinese stocks nudged higher, with the Shanghai composite rising slightly while the Shenzhen component gained 0.747%.Shares in Australia edged lower as the S&P/ASX 200 dipped 0.2%.Over in India, the Nifty 50 fell 0.4% while the BSE Sensex slipped 0.47%. Investors continued to monitor the coronavirus situation in India, on Friday, after more than 310,000 new daily infections were registered on Thursday.MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3%.Meanwhile, bitcoin prices dropped below the $50,000 level. As of 12:11 a.m. ET Friday, the price of bitcoin sat at $49,836.20, according to data from Coin Metrics.Overnight on Wall Street, the Dow Jones…

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