Global shares mixed amid worries on coronavirus, economy

Market players are watching for a slew of data on the Asian regional economy expected next week, including inflation data from South Korea, Hong Kong, Malaysia and Singapore. Hong Kong and Thailand are releasing trade data, likely to show declining export growth.

Global shares were mixed Friday, with investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic. France's CAC 40 fell 0.4 per cent in early trading to 5,020.87, while Germany's DAX was little changed at 13,206.92. Britain's FTSE 100 lost 0.3 per cent to 6,031.25.

US shares were set to be mixed with Dow futures sinking nearly 0.1 per cent to 27,795.5. S&P 500 futures were up nearly 0.1 per cent to 3,353.12. Market players are watching for a slew of data on the Asian regional economy expected next week, including inflation data from South Korea, Hong Kong, Malaysia and Singapore.

Hong Kong and Thailand are releasing trade data, likely to show declining export growth. Industrial production numbers will be released from Taiwan and Singapore, according to Prakash Sakpal, senior economist Asia at ING. And Asian central banks are likely to follow the Federal Reserve and make no policy change.

“There was nothing exciting about the three regional central bank meetings this week in Japan, Taiwan or Indonesia. And, we think it will be the same case for the next three meetings in China, Thailand and New Zealand next week,” said Sakpal.

Japan's benchmark Nikkei 225 gained 0.2 per cent to finish at 23,360.30. South Korea's Kospi added 0.3 per cent to 2,412.40. Australia's S&P/ASX 200 lost 0.3 per cent to 5,864.50. Hong Kong's Hang Seng rose 0.5 per cent to 24,455.41, while the Shanghai Composite edged up 2.1 per cent to 3,338.09. Another slide in technology companies helped pull stocks lower on Wall Street Thursday, extending losses from the day before.

“Hesitations as to whether the US economy can sustain the current pace of recovery amid the lack of additional fiscal policy support and the Fed standing put on stimulus had the market reeling once again,” said Jingy Pan, senior market analyst at IG. “The Fed hangover had seen to a conundrum for Asia markets with muted moves noted going into Friday between the Wall Street decline and the greenback weakness post Fed meeting.” Signs of a weaker economic recovery and a potential second wave of the virus are weighing on investors.

In energy trading, benchmark US crude gained 14 cents to USD 41.11 a barrel. Brent crude, the international standard, added 15 cents to USD 43.45 a barrel. The dollar cost 104.57 Japanese yen, down from 104.63 yen Thursday. The euro stood at USD 1.1850, up from USD 1.1804.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)