World stock markets slip with few leads from US-China talks
singapore — World markets were mostly lower on Friday in the absence of good news as the US and China concluded yet another round of trade talks in Beijing.
France’s CAC 40 rose 0.4 per cent to 5,080.31 while the DAX in Germany dipped 0.4 per cent to 11,044.17. Britain’s FTSE 100 edged up 0.1 per cent to 7,202.54.
Wall Street was set for losses on the open. S&P 500 futures shed 0.3 per cent to 2,735.00. Futures for the Dow were 0.4 per cent lower at 25,327.00.
European traders were looking out for possible snap elections in Spain. Prime Minister Pedro Sanchez was to make an announcement Friday after his government lost a key budget vote.
American and Chinese officials were to wrap up two days of negotiations in Beijing on Friday. It was unclear if they made headway on prickly issues such as Washington’s unhappiness over Chinese technology and trade policies.
Japan’s benchmark Nikkei 225 retreated 1.1 per cent to 20,900.63 and the Kospi in South Korea tumbled 1.3 per cent to 2,196.09. Hong Kong’s Hang Seng gave up 1.9 per cent to 27,900.84. The Shanghai Composite was 1.4 per cent lower at 2,682.39. Australia’s S&P/ASX 200 bucked the regional trend, picking up 0.1 per cent to 6,066.10.
The 30-share Sensex settled with a modest fall of 67.27 points, or 0.19 per cent down at 35,808.95 in Mumbai. The broader NSE Nifty closed at 10,724.40 points, down by 21.65 points, or 0.20 per cent.
Gold rose on Friday after weak US economic data dialled down chances the Federal Reserve would hike rates this year, and as dismal signals from China and Europe compounded concerns of a global slowdown and supported safe-haven demand for bullion.
Spot gold rose 0.3 per cent to $1,316.66 per ounce by 1036 MT, on course for a small weekly gain.
US gold futures gained 0.5 per cent to $1,319.90 an ounce.
The dollar eased to ¥110.36 from ¥110.45 late on Thursday. The euro slipped to $1.1275 from $1.1296. —