Asian markets look weaker on global clues

Asian stock markets began Friday with small losses as the recent recovery in equities lose its momentum.

Dec 14, 2018 03:12 IST India Infoline News Service

Asian businessman reading newspaper on park bench
Asian stock markets began Friday with small losses as the recent recovery in equities lose its momentum. Japanese Nikkei traded in the red after having a stellar week of gains. With weekend blues seeing traders go light, expect consolidation with a negative bias for today in the Asian region.

Nikkei 225 index down 1.7%, Straits times index down 1.4%, Shanghai Composite Index down 0.6%.

The yen rose 0.2% to 113.45 per dollar. The offshore yuan eased 0.2% to 6.8911 per dollar. The Bloomberg Dollar Spot Index was steady after rising 0.2% Thursday. The euro held at $1.1359. The pound was at $1.2628.

The pound had climbed Thursday amid reports that European leaders are set to discuss issuing a declaration on the Irish backstop, which may help prospects for the Brexit deal in Britain’s fractious Parliament.

Elsewhere, West Texas crude traded above $52 a barrel, though dipped Friday even after Saudi Arabia was said to be planning to slash exports to the U.S. in the coming weeks.

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