Global shares mixed as investors watch trade talks
TOKYO — Global shares were mixed Friday after a slide on Wall Street as nervous investors eyed U.S.-China trade talks in Washington.
France’s CAC 40 fell 0.1 percent in early trading at 5,190.64. Germany’s DAX was little changed, up less than 0.1 percent at 11,425.51. Britain’s FTSE 100 was also little changed at 7,167.12.
U.S. shares were set to drift higher with Dow futures adding 0.1 percent at 25,857. S&P 500 futures were up nearly 0.1 percent at 2,776.40.
A hodge-podge of recent economic data is fueling concerns over risks to global growth and the world’s two biggest economies are locked in a trade war spurred by U.S. contentions that China uses predatory tactics in a quest to overtake U.S. technological dominance, including pressuring American companies to hand over trade secrets and in some cases stealing them outright.
The Trump administration has warned it will increase its import taxes on $200 billion in Chinese goods from 10 percent to 25 percent if the two sides haven’t reached a resolution by March 2. But Trump in recent days has signaled a willingness to extend the deadline if negotiators are making progress.
“The trade talks do appear to have made some progress, however, but a run of weak data from Japan, Europe and the U.S. yesterday took the wind out of the equity market sails,” said Jeffrey Halley, senior market analyst at OANDA.
THE DAY IN ASIA: Japan’s benchmark Nikkei 225 inched down 0.2 percent to finish at 21,425.51. Australia’s S&P/ASX 200 gained 0.5 percent to 6,167.30. South Korea’s Kospi was unchanged at 2,230.50, while Hong Kong’s Hang Seng rose 0.5 percent to 28,762.75. The Shanghai Composite gained 1.9 percent to 2,804.23.
ENERGY: Benchmark U.S. crude rose 9 cents to $57.05 a barrel in electronic trading on the New York Mercantile Exchange. It slid 0.3 percent to settle at $56.96 a barrel in New York. Brent crude, used to price international oils, lost 5 cents to $67.02.
CURRENCIES: The dollar rose to 110.73 yen from 110.70 yen on Thursday. The euro gained to $1.1348 from $1.1338. /gsg
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.