TOKYO—Global shares were mostly lower in muted trading last Monday ahead of the Thanksgiving holidays in the United States, as gloom carried over from last Friday’s retreat on Wall Street.
France’s CAC 40 fell 0.1 percent in early trading to 5,312.37, while Germany’s DAX lost 0.3 percent to 12,959.45. Britain’s FTSE 100 lost nearly 0.4 percent to 7,352.88. US shares were also set to drift lower, with Dow futures down nearly 0.2 percent at 23,281. S&P 500 futures were also down nearly 0.2 percent at 2,571.80.
“Thanksgiving week in the US and a rather light data calendar could set the stage for a fairly quiet week. But best not to confuse quiet for calm,” said Vishnu Varathan of Mizuho Bank in Singapore.
Germany faced an uncertain political future on Monday after weeks of talks on forming a new government collapsed amid dissension over climate change and migration policies. Chancellor Angela Merkel, who has led the country since 2005, was set to consult the country’s president, raising the possibility of new elections.
Japan’s trade surplus fell more than 40 percent in October from a year earlier, despite strong growth in exports to China, the US and the European Union, as costs for imports of oil, gas and coal surged. Customs figures released last Monday showed imports rose almost 19 percent from the same month a year earlier in October to ¥6.41 trillion ($57 billion), while exports were up 14 percent at ¥6.7 trillion ($59 billion). The resulting surplus of ¥285.4 billion ($2.54 billion) compared with a ¥481.2-billion surplus a year earlier.
Japan’s benchmark Nikkei 225 index lost 0.6 percent to finish at 22,261.76 and Australia’s S&P/ASX 200 fell 0.2 percent to 5,945.70. South Korea’s Kospi shed 0.3 percent to 2,527.67. Hong Kong’s Hang Seng added 0.2 percent at 29,260.31, while the Shanghai Composite index gained 0.3 percent to 3,392.40. India’s Sensex slipped 0.1 percent to 33,315.45 and markets in Southeast Asia were mixed.
Benchmark US crude added 8 cents to $56.79 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.36 a barrel last Friday, to $55.71 a barrel. Brent crude, used to price international oils, lost 22 cents to $62.52 a barrel in London.
The dollar fell to ¥112.02, from ¥112.09. The euro slipped to $1.1762, from $1.1791.
Image credits: AP