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European Stocks Drop at Open, Before US Jobs Data

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European stock markets dropped at the start of trading Friday following falls in Asia, as attention switched to the release of key US jobs data ahead of the weekend. news online

London’s benchmark FTSE 100 index fell 0.3 percent to 7,534.12 points.

In the eurozone, Frankfurt’s DAX index retreated 0.2 percent to 14,455.58 points and the Paris CAC 40 shed 0.5 percent to 6,721.21.


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Hong Kong stocks finish with a loss

Hong Kong shares finished slightly lower Friday after a hefty rally over the previous three days, with investors now turning their attention to the release of US jobs data later in the day.

The Hang Seng Index eased 0.33 percent, or 61.09 points, to 18,675.35.

The Shanghai Composite Index slipped 0.29 percent, or 9.33 points, to 3,156.14, while the Shenzhen Composite Index on China’s second exchange was barely moved, inching up 0.50 points to 2,044.60.


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Tokyo Shares Close Lower Ahead of US Jobs Data

Tokyo stocks closed lower on Friday, trailing losses on Wall Street as investors awaited the release of US employment data.

The benchmark Nikkei 225 index fell 1.59 percent, or 448.18 points, to end at 27,777.90, while the broader Topix index gave up 1.64 percent, or 32.48 points, to 1,953.98.

Overnight weakness in US banking and semiconductor shares weighed on the Tokyo market, which fell from the start, wiping out gains made on Thursday.

Mizuho Securities said that traders were “in a wait-and-see mode” ahead of US jobs data.

The dollar stood at 135.02 yen, against 135.34 yen seen Thursday in New York.

Global investors were still digesting Federal Reserve Chair Jerome Powell’s announcement that it was time to moderate the speed of his aggressive interest rate hikes to counter inflation.

They were also closely watching China’s zero-Covid policy, with signs that Beijing might be moving towards a more pragmatic approach.

“This should help alleviate some of the acute supply chain issues” with citizens no longer “discouraged from going out due to fears of being pinged and being sent to a quarantine facility”, Tapas Strickland of National Australia Bank said.

Sports equipment maker Mizuno climbed 0.98 percent to 2,872 yen after Japan’s national football team at the World Cup beat Spain to advance to the knockout round.

Automakers were lower with Toyota falling 1.37 percent to 1,971 yen while Nissan tumbled 2.98 percent to 474.6 yen.

Uniqlo operator Fast Retailing dropped 1.71 percent to 81,360 yen.


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