HONG KONG (AP) – European markets opened with gains and Asian benchmarks retreated yesterday after United States (US) stocks coasted to the close of their latest winning week.
The future for the Dow Jones Industrial Average edged 0.1 per cent higher and that for the S&P 500 rose 0.2 per cent.
France’s CAC 40 added 0.4 per cent to 8,271.36 as investors looked ahead to the first round of voting in the French election in the coming weekend. Germany’s DAX advanced 0.6 per cent to 18,268.58. Britain’s FTSE 100 was 0.4 per cent higher to 8,271.36.
In Tokyo, the Nikkei 225 index rose 0.5 per cent to 38,804.65, making it the sole major benchmark in Asia to post gains yesterday.
The yen weakened to 159.75 to the dollar. The dollar closed at JPY159.77 on Friday.
Minutes of the Japanese central bank’s last policy meeting released yesterday put the yen under renewed pressure as it indicated that “any change in the policy interest rate should be considered only after economic indicators confirm that, for example, the CPI inflation rate has clearly started to rebound and medium-to long-term inflation expectations have risen”.
Meanwhile, it was reported that Masato Kanda, a vice minister of the Japanese Finance Ministry, said officials were prepared to intervene to support the currency at any time.
Elsewhere in Asia, Hong Kong’s Hang Seng fell less than 0.1 per cent to 18,027.71, while the Shanghai Composite lost 1.2 per cent to 2,963.10.
