Authorization

Asian Markets Mixed Amid Cautious Trades

(RTTNews) - Asian stock markets are mixed on Friday following the losses overnight in European markets, while the U.S. markets were closed for the Thanksgiving holiday. Investors digested news that a draft Brexit deal on future relations was reached between the UK and the European Union. Nevertheless, lingering worries about U.S.-China trade tensions and global economic growth weighed on sentiment.

The Australian market is edging higher in the absence of any fresh cues from Wall Street, which was closed overnight for the Thanksgiving holiday.

Lingering worries about U.S.-China trade tensions and the uncertainty surrounding Brexit weighed on sentiment. Gains by banks and oil stocks were offset by weakness in the major miners.

The benchmark S&P/ASX 200 Index is adding 23.70 points or 0.42 percent to 5,715.00, off a high of 5,720.60 earlier. The broader All Ordinaries Index is adding 21.90 points or 0.38 percent to 5,792.20. Australian shares advanced on Thursday.

In the banking sector, ANZ Banking is advancing more than 1 percent, while Commonwealth Bank, National Australia Bank and Westpac are higher in a range of 0.5 percent to 0.7 percent.

Oil stocks are mostly higher even as crude oil prices dipped overnight. Woodside Petroleum is adding 0.4 percent and Oil Search is rising almost 1 percent, while Santos is declining more than 1 percent.

The major miners are lower after iron ore prices fell overnight. Fortescue Metals is down 0.6 percent, BHP is losing almost 1 percent and Rio Tinto is lower by more than 1 percent.

Gold miners are mixed after gold futures ended flat overnight. Newcrest Mining is adding 0.6 percent, while Evolution Mining is lower by almost 1 percent.

Shares of Kathmandu Holdings are gaining almost 15 percent after the adventure gear retailer reported a 7 percent increase in Australian same store sales for the fifteen weeks to November 11 and also said it expects its first-half profit to be strongly above last year.

Among the other retailers, Woolworths and Wesfarmers are advancing almost 2 percent each, while Treasury Wines is rising more than 3 percent.

Brickworks' shares are declining more than 1 percent after the company said it has acquired American brickmaker Glen-Geery for A$151 million.

In the currency market, the Australian dollar is almost flat against the U.S. dollar on Friday. The local currency was quoted at $0.7251, compared to $0.7252 on Thursday.

Elsewhere in Asia, Singapore, New Zealand and Indonesia are also higher, while South Korea, Shanghai, Malaysia, Hong Kong and Taiwan are lower. The markets in Japan and India are closed for holidays.

The major European markets closed lower on Thursday. The German DAX fell 0.94 percent, France's CAC 40 index lost 0.75 percent and the U.K.'s FTSE 100 declined 1.28 percent.

Crude oil prices were lower on Thursday amid worries about a possible oversupply in markets. WTI crude oil futures for January were down $0.77 or 1.41 percent at $53.86 a barrel.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Октябрь 2019    »
ПнВтСрЧтПтСбВс
 123456
78910111213
14151617181920
21222324252627
28293031