SINGAPORE — Stocks in Asia-Pacific were mixed in Friday trade, while oil prices dropped nearly 1% on coronavirus concerns.
In Australia, the S&P/ASX 200 shed 0.42%. Australia’s retail sales data for August fell 4% on a seasonally adjusted basis, according to data from the country’s Bureau of Statistics. That followed a rise of 3.2% in July.
In Japan, the Nikkei 225 rose 0.33% in afternoon trade while the Topix index was slightly higher. The Tokyo Stock Exchange returned to trade on Friday following a halting of trade yesterday caused by a hardware glitch.
Singapore’s Straits Times index slipped 0.36%.
Overall, the MSCI Asia ex-Japan index dipped 0.12%.
Markets in China, Hong Kong, Taiwan, South Korea and India are closed on Friday for holidays.
Oil prices slip
Oil prices slipped in the afternoon of Asian trading hours, with international benchmark Brent crude futures down 0.9% to $40.56 per barrel. U.S. crude futures also shed 0.98% to $38.34 per barrel. That followed a sizable decline on Thursday of nearly 4%.
Shares of oil companies regionally also fell in Friday trade. In Australia, shares of Beach Energy dropped 4.68% while Santos fell more than 3%. Over in Japan, Inpex slipped 1.3%.
The recent pullback in oil prices “appears to be premised on worries about demand shortfall amid fading stimulus and virus resurgence,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a note.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.911 after touching an earlier low of 93.73.
The Japanese yen traded at 105.64 per dollar, in a trading week that has seen it at levels below 105.4 against the greenback. The Australian dollar changed hands at $0.7157, following its ascent this week from levels below $0.707.
Source: CNBC