Bangkok (AP) – Shares rose in Europe on Friday after a mixed trading day in Asia where the risk of an increase in coronavirus cases and the risk of a pandemic recovery weighed heavily on sentiment.

Stock prices rose in Paris, Frankfurt and Hong Kong, but fell in Tokyo, Seoul and Shanghai. US futures have gone up, but oil prices have come down.

The Bank of Japan maintained its policy on Friday, but lowered its growth forecast for the year from 3.5% -4.4% to 3.5% -4%. He said the outlook for the world’s third-largest economy was “very uncertain” and depended on how the COVID-19 situation developed.

Tokyo reported a number of new cases for six months on Thursday, 1308, just over a week before the Olympics started a year later than originally expected due to a pandemic. Many people in Japan are concerned that the Olympics will increase the risk of further outbreaks when the delta variant of COVID-19 causes a relapse around the world because most of the population is not fully vaccinated. Make.

In European trade, the German DAX rose 0.2% to 15,662.78 and the Paris CAC 40 0.3% to 6,515.42. The UK FTSE 100 jumped 0.6% to 7,050.95.

The future of the Dow Jones Industrial Average rose 0.1%, but the future of the S&P 500 was almost unchanged.

Tokyo’s Nikkei 225 index fell 1% to 28,003.08 and Seoul’s Kospi index fell 0.3% to 3,276.91. The Shanghai Composite Index fell 0.7% to 3,539.30. Hong Kong’s Hang Seng Index rose 0.3% to 28,072.66. In Australia, the S & P / ASX 200 rose 0.2% to 7,348.10.

In addition to the uncertainty, President Joe Biden told reporters on Thursday that as China clamped down on political and economic freedom in its territory, the risks of its administration doing business in Hong Kong were far-reaching for US companies. . He said he was preparing to issue a warning.

U.S. officials say the recommendation could be released soon this week.

Major U.S. stock indexes on Thursday nearly closed, retreating further from record highs reached earlier in the week.

The S&P 500 fell 0.3% to 4,360.03, on track for its first weekly loss in four weeks.

The tech-intensive Nasdaq fell 0.7% to 14,543.13. The Dow Jones Industrial Average rose 0.2% to 34,987.02. Small caps on the Russell 2000 Index fell 0.6% to 2,190.29.

Investors are watching what businesses have to say about the direction the economy is heading as the pandemic weakens and how rising inflation is affecting businesses.

Federal Reserve Chairman Jerome Powell testified for the second day before parliament. He reiterated that signs of inflation are expected to ease or reverse over time as the United States emerges from an unprecedented economic recovery following a pandemic-induced recession.

New data on unemployment benefit claims show that the labor market continues to improve. The Labor Ministry said Thursday that unemployment benefit fell from 26,000 to 360,000, the lowest level since last year’s pandemic.

Many companies will start publishing their reports next week when earnings season is in full swing.

Yields on 10-year Treasuries fell from 1.30% Thursday night to 1.33%.

In another Friday trade, benchmark U.S. crude fell 6 cents in e-commerce on the New York Mercantile Exchange to $ 71.59 a barrel. It sold $ 1.48 to $ 71.65 per barrel on Thursday. Brent crude, the international price standard, fell 8 cents a barrel to $ 73.39.

The US dollar fell from 109.85 yen to 110.19 yen. The euro went from $ 1.1813 to $ 1.1801.

Source link Asian stocks are mixed, Europe rises after fall of Wall Street | Business