· Asian shares down, set for worst month since March 2020
Asian shares slipped on Friday, with a gauge of regional equities set for its biggest monthly drop since the height of global pandemic lockdowns last March, while the dollar lagged near one-month lows on expectations of continued Fed stimulus.
But the stock market losses were moderate compared with sharp falls earlier in the week that had been sparked by investor fears over the impact of regulatory actions in China against the education, property and tech sectors.
On Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.84%, taking its losses for the week to more than 6.5%.
· Hong Kong’s Hang Seng tumbles more than 2% as tech shares decline; Asia-Pacific markets dip
Volatile trading continued for Chinese stocks on Friday, as losses were seen again — a day after they clawed back some gains following a dive early this week.
Hong Kong’s Hang Seng index tumbled more than 2% by the afternoon. Declines were seen in tech stocks after they had jumped on Thursday. Alibaba tumbled 5.5%, Tencent was down 4%, and Meituan dived more than 8%. The Hang Seng Tech index overall lost more than 4%.
Hong Kong’s Hang Seng index plunged more than 8% in two days early this week, and bounced back by 3% in Thursday’s session.
· Nikkei dips to over 6-month low on COVID-19 spike, earnings lag
Japan’s Nikkei stock average dropped to its lowest since the start of the year on Friday, with sentiment souring amid a spike in COVID-19 cases and some earnings disappointments, and weighed down by a decline U.S. stock futures.
The Nikkei ended the morning session 1.34% lower at 27,409.26, after dipping to 27,294.05, the lowest since Jan. 6.
For the month, the Nikkei is on course for a 4.8% slide, its worst since the coronavirus-induced market meltdown in March last year. A lower close today would mark an 11th straight decline on the final trading day of the month.
Meanwhile, the broader Topix sank 0.82% to 1,911.62, and was set for a 1.64% monthly fall.
· Japan's Nomura Q1 net profit dives 66% on slowdown in trading, Archegos loss
Nomura Holdings Inc (8604.T), Japan's biggest brokerage and investment bank, on Friday reported a 66% drop in first-quarter net profit due to a slowdown in the trading business and a previously flagged loss from the Archegos debacle.
· S.Korea stocks post worst month since March 2020 on weak China shares, virus woes
South Korean shares tumbled more than 1% on Friday, and posted its worst monthly decline in more than a year, weighed by continued worries about the Chinese government’s regulatory crackdown and the COVID-19 pandemic.
· European stocks open lower with investors monitoring earnings, new data
The pan-European Euro Stoxx 600 index was lower by roughly 0.8% in early deals, with mining and tech stocks leading the losses.
· Nasdaq futures fall more than 1% as stocks try to round out strong July
Futures contracts tied to the major U.S. stock indexes fell in the overnight session as a soft earnings report from Amazon threatened to dampen an otherwise strong month ahead of July’s final day of trading.
S&P 500 futures shed 0.77%, while those tied to the Nasdaq 100 fell 1.33%. Dow futures dipped 112 points.
· FTSE 100 drops as miners drag; British Airways owner slides
London’s FTSE 100 fell on Friday to be on track for a monthly loss after five straight months of gains, as weakness in mining stocks weighed, while British Airways-owner IAG dropped after saying it was cautious on recovery prospects.
The blue-chip FTSE 100 lost 1.0%, with travel stocks leading the losses, while miners Rio Tinto , Anglo American, and Glencore were the top drags.
Reference: CNBC, Reuters