Asian stocks mixed after Wall Street ends little changed

A woman looks at an electronic stock indicator of a securities firm in Tokyo, Thursday, Feb. 2, 2017. Asian markets wavered and the dollar lost some steam Thursday after the Fed kept its key lending rate on hold as expected at its latest policy meeting. (AP Photo/Shizuo Kambayashi)
People are reflected on an electronic stock indicator of a securities firm in Tokyo, Thursday, Feb. 2, 2017. Asian markets wavered and the dollar lost some steam Thursday after the Fed kept its key lending rate on hold as expected at its latest policy meeting. (AP Photo/Shizuo Kambayashi)
FILE - In this Friday, Nov. 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange. Stocks are opening modestly lower on Wall Street, Thursday, Feb. 2, 2017, as traders didn't find much to get excited about in the latest batch of earnings reports from U.S. companies. (AP Photo/Richard Drew, File)

BEIJING — Asian stocks were mixed Friday after Wall Street ended little changed as exchanges that shut for the Lunar New Year resumed trading.

KEEPING SCORE: The Shanghai Composite index lost 0.6 percent to 3,138.99 while Tokyo's Nikkei 225 lost 0.1 percent to 18,893.13. Hong Kong's Hang Seng shed 0.6 percent to 23,042.08. Seoul's Kospi was unchanged at 2,072.29 and Sydney's S&P-ASX 200 fell 0.4 percent to 5,625.30. Manila and Singapore retreated, while New Zealand, Taiwan and Jakarta gained.

WALL STREET: Cautious investors focused on earnings reports from U.S. companies including Facebook and Merck. Ryder System, a truck leasing company, fell 8 percent after earnings fell short of expectations. Ralph Lauren plunged 12 percent after announcing its CEO of two years was leaving. The Dow Jones industrial average lost 6.03 points, or less than 0.1 percent, to 19,884.91. The Standard & Poor's 500 index rose 1.30 points, or 0.1 percent, to 2,280.85 and the Nasdaq composite fell 6.45 points, or 0.1 percent, to 5,636.20.

TRUMP EFFECT: Some investors worry President Donald Trump's actions including last week's immigration ban, comments on trade and tough talk toward Mexico, Australia and Iran might hurt business confidence and the economy. After a post-election rally that pushed stocks to all-time highs and the Dow above the 20,000-point mark, investors have stepped back this week.

ANALYST'S TAKE: "Worries over the nature of Trump's presidency have overshadowed the figures," said Alex Furber of CMC Markets in a report. "Trump has alarmed markets by pursuing a controversial, protectionist political agenda," said Furber. "In his latest performance piece, the new president rattled relations with Australia yesterday and fired strong words towards Iran."

US JOBS: Investors looked ahead to government data on hiring for January. Some of that uncertainty could come Friday with the government's jobs report for January. For this report, the first that will be at least partially under the tenure of President Trump, economists estimate employers created 175,000 jobs in January, and the unemployment rate remained at 4.7 percent, according to FactSet. However some recent data, including Wednesday's ADP private sector report, has given some traders hope for a jobs report over 200,000.

ENERGY: Benchmark U.S. crude gained 16 cents to $53.71 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 34 cents on Thursday to close at $53.54. Brent crude, used to price international oils, added 17 cents to $56.73 in London. It shed 24 cents the previous session to $56.56.

CURRENCY: The dollar declined to 112.65 from Thursday's 112.93. The euro edged up to $1.0760 from $1.0759.

People also read these

Asian stocks higher after Wall Street long weekend

Feb 21, 2017

Asian stock markets are mostly higher as investors look ahead to Fed minutes following a three-day...

Global markets cautious ahead of Trump speech

Feb 27, 2017

World stock markets were subdued Monday as investors looked ahead to U.S. President Donald Trump's...

World stocks mixed; Asia drops on Chinese...

Mar 30, 2017

World stocks were mixed Thursday, with Asian indexes falling as Chinese authorities tightened...

Asian stocks mostly lower as Trump uncertainty...

May 12, 2017

Asian shares mostly lower as US political uncertainty, poor retailer earnings weigh on investors

World stocks mixed on Trump fallout, watch G-7...

May 12, 2017

World shares mixed amid US political uncertainty and ahead of G-7 finance chiefs' meeting

About Us

Biz Daily Online gives a complete understanding of the world of business to you. Get today’s business news and learn about the trends that are affecting every business here.

Contact us: sales[at]bizdailyonline.com

Subscribe Now!