· European stocks traded lower Friday as tensions heightened between the U.S. and Iran following attacks on two oil tankers in the Gulf of Oman on Thursday.
The pan-European Stoxx 600 was down 0.3% after the opening bell, tech stocks leading losses with a 0.8% drop as the majority of sectors traded in the red, with the exceptions of oil and gas and utilities.
· Asian stocks sagged on Friday ahead of key Chinese data that could provide more clues on how heavily the U.S.-Sino trade war is weighing on the economy, while oil prices were supported by supply concerns after attacks on tankers in the Gulf of Oman.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.3%.
For the week, it was headed for a gain of 0.9%, as global stock markets were lifted by factors including expectations for Federal Reserve rate cuts and relief over a U.S.-Mexico immigration deal that averted damaging tariffs.
· Japan’s Nikkei rose on Friday, with energy shares rallying after attacks on two oil tankers in the Gulf of Oman pushed crude oil prices sharply higher.
The Nikkei share average tacked on 0.4% to 21,116.89, after slipping into negative territory in early trade. For the week, the index gained 1.1%.
· China stocks ended weaker on Friday, as investors kept a cautious stance ahead of data that was released after market hours, while U.S. tariff threats continued to weigh.
At close, the Shanghai Composite index was down 1% at at 2,881.97 points, but still ended up 1.9% for the week. The blue-chip CSI300 index closed 0.8% lower, but 2.5% higher week-on-week.
Reference: Reuters, CNBC
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