Global markets mixed after Wall Street loss

Stock trader Luke Scanlon, right, works at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)
Traders work at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)

BEIJING — Asian markets slid Friday while Europe gained in early trading ahead of the Christmas holiday after Wall Street fell for a second day.

KEEPING SCORE: France's CAC-40 gained 0.1 percent to 4,840.24 and Germany's DAX rose 0.1 percent to 11,472.34. London's FTSE 100 was down 2 points at 7,061.65. On Thursday, the DAX lost 0.1 percent, the FTSE added 0.3 percent and the CAC-40 was little changed. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor's 500 index were unchanged.

ASIA'S DAY: The Shanghai Composite Index fell 0.9 percent to 3,110.15 and Hong Kong's Hang Seng retreated 0.3 percent to 21,574.76. Sydney's S&P-ASX 200 was off 0.3 percent to 5,627.90 and Seoul's Kospi declined a fraction of a point to 2,035.90. India's Sensex added 0.4 percent to 26,077.96. Japanese markets were closed for a holiday. Benchmarks in New Zealand and Bangkok advanced. Taiwan and other Southeast Asian markets declined.

WALL STREET: Retailers pulled U.S. stocks lower after a record close for the Dow Jones industrial average earlier in the week. Investors dumped retailers including Bed Bath & Beyond, Target, Staples and Dollar Tree. Companies linked to investor Carl Icahn climbed after he was named as an adviser to President-elect Donald Trump. The Dow shed 23.08 points, or 0.1 percent, to 19,918.88. The Standard & Poor's 500 index lost 4.22 points, or 0.2 percent, to 2,260.96. The Nasdaq composite dipped 24.01 points, or 0.4 percent, to 5,447.42.

ANALYST'S TAKE: "Santa has taken a leave of absence into the end of the week with a pullback seen on Wall Street," said Jingyi Pan of IG in a report. "Traders have been closing their position into the end of the year and have brought down most of the sectors on the S&P 500 index with the exception of energy and defensives — telecommunications and utilities. Asian indices could remain depressed into the end of the year."

US ECONOMY: The U.S. economy grew at a 3.5 percent annual rate in the July-September quarter, the fastest pace in two years and more than the government had previously estimated. The gain in the gross domestic product came from added strength in consumer spending, business investment and the government sector, the Commerce Department said. The government had previously estimated last quarter's annual growth rate at 3.2 percent.

ENERGY: Benchmark U.S. crude lost 43 cents to $52.52 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 46 cents on Thursday to $52.95. Brent crude, used to price international oils, fell 41 cents to $54.64 in London. It rose 59 cents the previous session to $55.05.

CURRENCY: The dollar declined to 117.40 yen from Thursday's 117.45 yen. The euro improved to $1.0444 from $1.0439.

Must Read

Asian shares mixed as investors consider latest Fed minutes

Jan 5, 2017

Asian stock indexes mixed as investors assess latest Fed meeting minutes; Japan shares slip as yen...

Asian markets lower amid Brexit worries

Jan 17, 2017

Asian stock markets are mostly lower after Britain said Prime Minister Theresa May will call for a...

World stocks turn lower as investors monitor volatile dollar

Jan 18, 2017

World stocks are mostly lower after a sharp drop in the dollar sapped investor enthusiasm

What Trump's trade and geopolitical moves mean for China

Jan 24, 2017

With his rejection of an Asian trade pact, U.S. President Donald Trump has started tackling policy...

Asian stocks decline after Wall Street falls

Feb 7, 2017

Asian stocks are lower after Wall Street declined and oil rebounded

People also read these

Asian markets lower amid Brexit worries

Jan 17, 2017

Asian stock markets are mostly lower after Britain said Prime Minister Theresa May will call for a...

IMF raises China growth forecast but warns on debt

Jan 16, 2017

The International Monetary Fund has raised its growth forecast for China but warned that rising...

Stocks drop but pound recovers as UK lays out Brexit plan

Jan 17, 2017

Global stocks fell Tuesday but the pound rebounded as British Prime Minister Theresa May says her...

Asian stocks directionless, dollar steadies after slide

Jan 18, 2017

Most Asian stock indexes are lacking direction following a sharp correction overnight in the dollar...

China's growth edges up but 2016 weakest year since 1990

Jan 20, 2017

China reports its economy picked up pace in the last quarter, though its full-year performance was...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales@aseancoverage.com