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Worries about U.S. President Donald Trump's tariff policies
remain high on global investors' minds.
France's CAC 40 gained 0.4% in early trading to 8,142.89, while
Germany's DAX rose 0.3% to 22,507.07. Britain's FTSE 100 fell
0.3% to 8,684.84. U.S. shares were set to trade mixed with Dow
futures up nearly 0.2% at 44,627.59, while the S&P 500 futures
fell 0.2% to 6,148.00.
Major Asian benchmarks declined across the board. Japan's
benchmark Nikkei 225 dropped 1.2% to finish at 38,678.04.
Australia's S&P/ASX 200 declined 1.2% to 8,322.80, while South
Korea's Kospi lost nearly 0.7% to 2,654.06.
Hong Kong's Hang Seng dipped 1.6% to 22,576.98, after China left
its benchmark interest rate unchanged, in a move it said was
meant to maintain financial stability. The Shanghai Composite
shed less than 0.1% to 3,350.78.
“The yuan has been under siege, with foreign-exchange outflows
surging last month as Trump’s tariff rhetoric sent shockwaves
through markets,” said Stephen Innes, managing partner at SPI
Asset Management.
In energy trading in Asia Thursday, benchmark U.S. crude fell 31
cents to $71.94 a barrel. Brent crude, the international
standard, lost 21 cent to $75.83 a barrel.
Analysts are watching recent currency fluctuations, with the yen
strengthening against the U.S. dollar, at one point to below 150
yen. The Federal Reserve has indicated it may wait a while
before it's ready to cut rates.
In Thursday's trading in Asia, the U.S. dollar slipped to 150.35
Japanese yen from 151.37 yen. The euro cost $1.0436, up from
$1.0428.
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