Market Overview

TGIF? Global Equities Mostly Higher On Friday


Asian stocks were mostly higher on Friday even though the prospect of a Fed rate hike in June remains an ongoing concern. In addition, the Group of Seven finance ministers and central banks are scheduled to meet in Sendai, Japan on Friday and Saturday to discuss coordinated stimulus measures - a topic that is unlikely to be agreed on.

According to Japan Times, central bankers have "limited" room to maneuver on fiscal policy which is "unwelcome" news for Japan as the country is eyeing its own new fiscal stimulus measures in the coming months.

Hong Kong's Hang Seng index was an outperformer among major Asian indices, gaining 0.80 percent. China's Shanghai index gained 0.66 percent, Australia's ASX index gained 0.55 percent, Japan's Nikkei index gained 0.54 percent and Taiwan's TSEC index gained 0.44 percent.

India's Mumbai Sensex index lost 0.39 percent.

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European stocks were mostly higher as well with more than four hours of trading remaining, led by the UK's FTSE index that is on track for its biggest daily gain in five weeks. The index was higher by 1.33 percent as the most recent polls are now suggesting a "no" outcome on the upcoming "Brexit" vote.

France's CAC index was higher by 1.13 percent and Germany's DAX was higher by 0.83 percent.

Oil prices also traded higher early Friday morning, with U.S. WTI crude futures trading at higher by $0.43 at $48.59 and approaching its previous seven-month high of $48.95.

Posted-In: Asian Stocks European stocks Group of SevenNews Commodities Global Pre-Market Outlook Markets


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