GLOBAL MARKETS DJIA* 35804.38 -9.42 -0.03% Nasdaq* 15845.23 70.09 0.44% S&P 500* 4701.46 10.76 0.23% FTSE 100 7310.37 24.05 0.33% Nikkei Stock 28830.90 -668.38 -2.27% Hang Seng 24340.95 -399.21 -1.61% Kospi 2959.82 -20.45 -0.69% SGX Nifty# 17394.00 -183.5 -1.04% #Dec contract USD/JPY 114.74-75 -0.54% Range 115.38 114.70 EUR/USD 1.1218-21 +0.09% Range 1.1227 1.1207 CBOT Wheat* Dec $8.366 per bushel Spot Gold $1,794.03/oz 0.3% Nymex Crude (NY)* $78.25 -$0.25 *Markets in the U.S. were closed Thursday for the Thanksgiving Holiday. EUROPEAN STOCKS
Markets in the United States were closed Thursday for the Thanksgiving holiday.
International stocks have been mixed following strong US labor market data and signs of greater uncertainty among central bank officials about how long it will take to reduce high inflation.
European stocks closed higher. The DAX 40 rose by 0.25%, the CAC 40 by 0.48% and the FTSE 100 by 0.33%.
The whole pan-continental Stoxx Europe 600 increased by 0.4%.
The Nikkei Stock Average in Japan fell 1.3% to 29,112.04, weighed down by lingering concerns over the resurgence of Covid-19 and restrictions in Europe, inflation in the United States and the strength of the yen, although that the discussions may be somewhat strained due to the Thanksgiving holiday. The losses on the benchmark were led by a mixed group of companies with Asahi Kasei down 2.7%, Minebea Mitsumi down 3.0% and Komatsu down 2.8%. USD / JPY was at 114.97 from 115.37 at the Tokyo Stock Exchange close on Thursday.
South Korea’s Kospi was down 0.3% to 2,971.72 at the start of trading, as investors continued to digest the Bank of Korea’s second interest rate hike in three months. Aviation stocks were lower amid fears that rising Covid-19 cases in South Korea and elsewhere could slow the recovery in travel.
Hong Kong’s Hang Seng Index fell 1.8% to 24,300.97 at the start of trading amid massive selling, on course for the biggest one-day percentage loss since early October. Concerns about a potential acceleration in the Fed’s withdrawal of monetary support weigh on sentiment, KGI Securities said. Several large IPOs will soon start offering shares, which could absorb liquidity from the market, he said, and expects the local market to consolidate today. The losses were driven by the actions of the casinos. Fantasia Holdings lost 2.9% after announcing that a petition for liquidation had been filed against one of its main subsidiaries.
Chinese stocks were significantly lower at the start of trading, following declines among other Asian stocks amid concerns of a new variant of Covid-19. The Shanghai Composite Index fell 0.4% to 3,570.05, the Shenzhen Composite Index fell 0.2% to 2508.00, and the ChiNext Price Index rose 0.1% to 3479.45. Mining stocks were among the worst performers, following comments by China’s National Development and Reform Commission on Thursday that coal stocks in power plants are expected to hit an all-time high by the end of November due to increased coal supplies.
The Japanese yen has strengthened significantly against the G-10 and Asian currencies amid a growing sense of risk aversion spurred by the fall in regional stock markets and a new variant of Covid-19 detected in South Africa . Scientists said the new variant has a high number of mutations that could make it more transmissible and allow it to escape some of the immune responses triggered by a previous infection or vaccination. WHO called an expert meeting on Friday to discuss whether to declare the new strain a “variant of concern.” USD / JPY fell 0.4% to 114.90, AUD / JPY slipped 0.9% to 82.21 and SGD / JPY lost 0.6% to 83.87.
Gold gained at the start of Asian trade, amid concerns over the growing number of Covid-19 cases around the world. The precious metal could trade between $ 1,780 / oz and $ 1,810 / oz for the remainder of the week, amid the festive Thanksgiving mood in the United States, Oanda said. However, he expected gold to have a difficult short-term technical outlook as it could be vulnerable to some losses if US Treasury yields remain firm. Spot gold was recently up 0.3% to $ 1,794.03 / oz.
Oil has slipped in early Asian trade, as the resurgence of Covid-19 in Europe and pandemic-related restrictions in European countries could weaken demand for this product. The potential for foreclosure of more European countries has heightened market speculation on weaker demand, the CBA said. The lockdowns have been particularly negative for oil demand, as transportation accounts for two-thirds of global oil consumption, the CBA said. For next week, markets should pay attention to the OPEC + meeting, where the group will decide oil production plans for January, the bank said. First-month WTI crude oil futures fell 1.7% to $ 77.06 / bbl. First month Brent crude oil futures were down 1.2% to $ 81.22 / bbl.
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(END) Dow Jones Newswires
November 25, 2021 10:15 p.m. ET (3:15 a.m. GMT)
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