International markets roundup
NEW YORK: The three major US stocks indices have closed higher, snapping three days of losses, as investors bet on slower US rate rises, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.
On Friday, weaker-than-expected July consumer price data led investors to bet that benign inflation would keep the US Federal Reserve from raising rates again this year.
The US consumer price index (CPI) disappointed for the fifth consecutive month, with its core measure at 0.1 per cent, versus an expected 0.2 per cent, leaving the annual rate at 1.7 per cent, against the expected 1.8 per cent.
While this gave investors some hope after a jittery week, there were still signs of nervousness in choppy late afternoon trading, primarily due to ongoing threats between the United States and North Korea.
President Donald Trump on Friday said the US military was "locked and loaded", while Pyongyang accused him of driving the Korean peninsula to the brink of nuclear war.
The Dow Jones Industrial Average rose 0.07 per cent to 21,858.32, the S&P 500 gained 0.13 per cent to 2441.32 while the Nasdaq Composite added 0.64 per cent to 6256.56.
LONDON: A sell-off in heavyweight basic resources stocks prompted a third day of losses for European shares on Friday, posting their worst week this year amid a ramp-up of tensions between the United States and North Korea.
Volatility jumped and the pan-European STOXX 600 fell 1.1 per cent, taking weekly losses to 2.8 per cent, its worst since early November 2016.
Euro zone stocks and blue-chips also dropped 0.9 per cent, while the miner-heavy FTSE fell 1.1 per cent to 7,309.96.
The losses have been triggered by a standoff between Washington and Pyongyang, as the war of words between the two intensified.
The VSTOXX, the main European gauge of equity investor anxiety, jumped to a near four-month high, though it remained close to historically depressed levels.
On Friday basic resource stocks dropped 2.6 per cent to a month low as metal prices fell.
ArcelorMittal, Rio Tinto, Glencore, Antofagasta, Anglo American, BHP Billiton and all fell 2.3 to 4.5 per cent.
Falling crude prices made oil & gas stocks a weight too, dropping 1 per cent with Tullow Oil the biggest faller.
TOKYO: Asian equity markets extended a global slide on Friday as tensions ramped up between the US and North Korea, sending investors fleeing to less risky assets such the yen and the Swiss franc.
MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.55 per cent, its biggest one-day loss since mid-December.
Japanese markets were closed for a holiday.
Hong Kong shares fell 2 per cent, dragged down by a sell-off in internet-related shares and fears over the impact of rising tensions between the United States and North Korea.
The Hang Seng index fell 2.0 per cent, to 26,883.51, while the China Enterprises Index lost 1.9 per cent, to 10,572.97 points.
The losses brought the Hang Seng down 2.5 per cent for the week, making for its worst weekly performance this year.
China stocks stumbled amid the growing war of words between the USand North Korea combined with profit-taking in cyclical sectors.
The blue-chip CSI300 index fell 1.85 per cent, to 3,647.35 points.
The Shanghai Composite Index lost 1.6 per cent to 3,208.54 points, its sharpest daily drop this year.
WELLINGTON: The S&P/NZX50 Index dropped 0.9 per cent to 7719.11.
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