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Shares in Asia have changed little; large markets closed for Good Friday



Shares in Asia were mixed in trading on Friday morning, with large markets throughout the region closed for the long Friday holiday.

Chinese stocks on the mainland were lower in early trade, with the Shanghai composite down about 0.5% while the Shenzhen composite down 0.751%.

Japan’s Nikkei 225 lost previous gains as it fell 0.4% in morning trading, with shares in FamilyMart falling 4.94%. The Topix index fell 0.8%.

South Korea’s Kospi added 0.5%.

Markets in Australia, Hong Kong, Singapore and India are all closed for the Good Friday holiday.

Data released on Friday showed that Chinese consumer inflation rose on an annual basis in March. China̵

7;s consumer price index for March rose 4.3% year-on-year, according to the country’s national statistics agency. It was still less than expectations of a 4.8% year-over-year increase by analysts in a Reuters survey.

Overnight, the S&P 500 adds 1.5% to close at 2,799.82 while the Dow Jones industrial average gained 285.80 points, or 1.2%, to end its trading day of 23,719.37. The Nasdaq Composite closed 0.8% higher at 8,153.58.

For the week, the S&P 500 rose 12.1%. It was the biggest gain in a week since 1974, when it rose more than 14%. Nasdaq had its best week since 2009, jumping 10.6%. Dow rose by more than 12% for one of its biggest weekly gains on record. US stock markets are also closed on Friday for Good Friday.

At the same time, a historic production agreement struck between the Organization of Oil Exporting Countries (OPEC) and its allies, known together as OPEC +, after Mexico reportedly refused to accept its share of the cuts.

The other members of OPEC +, led by Saudi Arabia and Russia, agreed earlier in the day on cuts that would take 10 million barrels per day offline when coronavirus pandemic juice requires crude oil. But after Mexico resisted its award, the meeting ended with no definitive agreement. The talks will now continue on Friday, according to a Bloomberg report citing sources familiar with the discussions.

Currencies

The US dollar index, which tracks the greenback against a basket of their peers, was last at 99,604 after falling from levels above 100.5 seen earlier in the trading week.

The Japanese yen was trading at 108.52 per dollar after seeing levels above 108.8 yesterday. The Australian dollar changed hands at $ 0.6322 after rising from levels below $ 0.62 earlier this week.

– CNBC’s Fred Imbert and Pippa Stevens contributed to this report.


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