Asian stocks were set for a mixed start on the last trading day of the week, taking cues from Wall Street’s overnight performance.
Futures tipped a lower open for Japan, with Nikkei futures traded in Chicago lower by 0.21 percent compared to the Nikkei 225’s previous close. Elsewhere, Australian SPI futures were up 0.16 percent at the end of Thursday.
U.S. stocks were mixed on Thursday, with major indexes trading flat for most of the day before slipping late in the session. Investors have been focused on this quarter’s strong earnings. Nearly 90 percent of S&P 500 companies have reported quarterly results so far.
Trade concerns have also been in the spotlight, with China announcing earlier this week that it would retaliate against recent U.S. tariffs. The Chinese Ministry of Commerce announced Wednesday a 25 percent tariff on $16 billion in U.S. goods, a move that came after the U.S. Trade Representative’s office said duties on $16 billion in Chinese imports would take effect on Aug. 23.
The Nasdaq Composite notched its eighth consecutive positive session, finishing the day higher by 0.04 percent at 7,891.78. That was the tech-heavy index’s longest win streak this year. The Dow Jones Industrial Average eased 0.29 percent, or 74.52 points, to close at 25,509.23 and the S&P 500 edged down by 0.14 percent to 2,853.58.
European markets were also mixed overnight, with the pan-European Stoxx 600 edging 0.1 percent higher and the FTSE 100 slipping 0.45 percent. Asian markets, meanwhile, closed mostly higher on Thursday.
The dollar was broadly firmer overnight, with the dollar index, which tracks the greenback against a basket of currencies, last at 95.504. Against the yen, the dollar traded at 111.13 at 7:25 a.m. HK/SIN.
Other notable moves included the slide in the Russian ruble following news of U.S. sanctions on the country linked to an alleged poisoning in Britain earlier in the year. The currency traded at 66.56 at 7:08 a.m. HK/SIN.
Meanwhile, the Turkish lira dropped in the previous session, touching a new low against the dollar after talks between officials from the U.S. and Turkey reportedly yielded no major progress, according to Reuters. The lira last traded at 5.5501 to the dollar.
On the earnings front, corporates due to report results on Friday include Japan Post Holdings.
Here’s the economic calendar for Friday (all times in HK/SIN):
— CNBC’s Fred Imbert contributed to this report.
