France’s CAC 40 was little changed, inching down less than 0.1 percent to 6,704.00. Germany’s DAX slipped 0.1 percent to 14,524.48. Britain’s FTSE 100 gained 0.1 percent to 7,473.46. The futures for the S&P 500 gained 0.2 percent while that for the Dow industrials was up 0.1 percent.
Investors have their eyes on China’s lockdowns and restrictions to curb the spread of coronavirus
China has been expanding pandemic lockdowns, including in a city where factory workers making Apple’s iPhone clashed with police this week, as its number of COVID-19 cases hits a daily record.
Across China, the number of new cases reported Thursday was 31,444, the highest since the virus was first detected in late 2019.
Reopening policies have pivoted in China, which will be a gradual process. COVID control measures will vary across cities, but positive top-down approaches will be ongoing, said Stephen Innes, Stephen Innes, managing partner at SPI Asset Management.
Japan’s benchmark Nikkei 225 lost 0.4 percent to finish at 28,283.03. Australia’s S&P/ASX 200 rose 0.2 percent to 7,259.50. South Korea’s Kospi dropped 0.1 percent to 2,437.86. Hong Kong’s Hang Seng slipped 0.5 percent to 17,573.58. The Shanghai Composite gained 0.4 percent to 3,101.69.
data on inflation in Tokyo for November beat analysts’ expectations, with the core consumer price index showing a 3.6 percent rise, the highest in more than four decades.
The Federal Reserve and the world’s other central banks have been raising interest rates to try to rein in decades-high inflation, But the Bank of japan has resisted tightening monetary policy, a move that would counter inflationary pressures by discouraging borrowing by businesses and consumers.
With the bank of japan being one of the few outliers which has not embarked on a rate-hiking process, the point of pivot will be a key question into next year,” Jun Rong Yeap of IG said in a commentary.
United States markets were closed Thursday for Thanksgiving, but will be back for a shortened session on Friday.
In energy trading, benchmark US crude rose USD 1.08 cents to USD 79.02 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international The standard added 95 cents to USD 86.19 a barrel in London.
In currency trading, the US dollar rose to 138.83 Japanese yen from 138.58 yen. The euro costs USD 1.0419, inching up from USD 1.0411.
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