Pakistan stock end in the red
The stock market endured a volatile session on Friday as the index oscillated between red and black zones to end trading below 45,300 points.
The KSE-100 Index opened on a positive note, but it failed to sustain the momentum as selling pressure mounted. Overall, trading volumes fell to 144 million shares compared with Thursday’s tally of 183 million. Shares of 369 companies were traded. At the end of the day, 142 stocks closed higher, 206 declined while 21 remained unchanged. The value of shares traded during the day was Rs6.5 billion. Lotte Chemical XD was the volume leader with 21.8 million shares, losing Rs0.30 to close at Rs10.56.
US three major indexes decline
Wall Street’s three major indexes declined on Friday as investors worried about a jump in US bond yields, with technology stocks leading the decline on nerves about upcoming earnings reports and iPhone demand.
The technology index was the biggest drag on the S&P 500 with a 1.5 percent drop after registering three straight days of losses ahead of a key earnings week for the sector.
The Dow Jones Industrial Average fell 202.09 points, or 0.82 percent, to 24,462.8, the S&P 500 lost 22.98 points, or 0.85 percent, to 2,670.15 and the Nasdaq Composite dropped 91.93 points, or 1.27 percent, to 7,146.13.
Apple fell 4.1 percent, making it the biggest drag on the major indexes after Morgan Stanley estimated weak demand for its latest iPhones, a day after Taiwan Semiconductor raised fears of softer smartphone sales.
Alphabet, Facebook, Intel and Microsoft are among the major technology companies reporting next week.
S&P 500 companies are expected to report their strongest first-quarter profit gains in seven years. Of the 87 companies that have reported so far, 79.3 percent have topped profit expectations, according to Thomson Reuters I/B/E/S. Declining issues outnumbered advancing ones on the NYSE by a 2.05-to-1 ratio; on Nasdaq, a 1.68-to-1 ratio favoured decliners. On U.S. exchanges 6.45 billion shares changed hands compared to the 6.92 billion average for the last 20 trading days.
China stocks post worst week in a month
China stocks fell on Friday to have their worst week in a month, amid lingering worries over the simmering trade tensions between China and the United States.
The blue-chip CSI300 index closed down 1.3 percent at 3,760.85, while the Shanghai Composite Index dropped 1.5 percent to 3,071.54. For the week, CSI300 declined 2.9 percent, while SSEC shed 2.8 percent, both logging their worst week since late March. Caution prevailed as worries persisted over the trade stand-off between China and the United States.
FTSE outperforms European markets
Weaker sterling helped Britain’s FTSE 100 outperform European markets on Friday, while consumer giant Reckitt Benckiser tumbled after disappointing results and Shire declined as Allergan pulled out of the running to acquire the company.
Reckitt Benckiser shares fell 6.2 percent after the maker of Dettol products reported sales growth missed expectations including sluggish results at its Scholl footcare brand. Shire shares fell back 3.4 percent after Allergan ruled out a bid for the company, whose shares have been on a rollercoaster ride as Takeda Pharmaceuticals and other bidders jostle to acquire it.
Hong Kong stocks end lower
Hong Kong stocks ended down on Friday, as energy shares slumped from a two-month high hit in the previous session, while technology stocks tracked the Asian tech sector lower. The Hang Seng index ended down 0.9 percent at 30,418.33, while the China Enterprises Index closed 1.5 percent down at 12,054.23 points. The sub-index of the Hang Seng tracking energy shares closed 2.2 percent lower, while the IT sector fell 1.72 percent, the financial sector was 0.62 percent lower and property sector ended down 1.03 percent.
Indian shares mark fourth weekly gain
Indian shares ended flat on Friday, as gains in technology stocks offset losses in other sectors, while minutes of the central bank’s policy panel meeting stoked expectations of an interest rate hike.
The broader NSE index ended little changed at 10,564.05, gaining 0.8 percent for the week. The benchmark BSE index closed about 12 points lower at 34,415.58, gaining 0.6 percent for the week.
Tokyo stocks slip
Tokyo stocks opened lower on Friday after drops on Wall Street, as investors waited for earnings reports by major companies starting next week.
The benchmark Nikkei 225 index slipped 0.26 percent or 58.69 points to 22,132.49 in early trade while the broader Topix index was down 0.10 percent or 1.71 points at 1,748.47.
Canadian index little changed
Canada’s main stock index was little changed on Friday as gains in financial companies and Rogers Communications offset declines in energy stocks and lower-than-expected domestic inflation data.
At 9:55 a.m. ET (1355 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index was up 7.81 points, or 0.05 percent, to 15,462.23.
Australian shares down
Australian shares broke a five-day winning streak on Friday as the recent rally in material stocks paused for breath, while sentiment was further dampened by a weak finish overnight on Wall Street.
The S&P/ASX 200 index fell 0.2 percent or 12.2 points to 5,868.8 at the close of trade, but finished the week 0.7 percent higher. The benchmark rose 0.3 percent on Thursday.
South Korean stocks slump
Round-up of South Korean financial markets: South Korea’s KOSPI stock index weakened on Friday after rising 1.3 percent during the past two sessions, while the Korean won lost ground on the local platform due to dollar strength, and bond yields rose.
At 06:32 GMT, the KOSPI was down 9.77 points or 0.39 percent at 2,476.33. For the week, the index gained 0.9 percent, its second straight weekly gain. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.09 percent, while US stocks ended the previous session with losses. Japanese stocks weakened 0.13 percent.
Sri Lankan stocks end higher
Sri Lankan share index ended slightly firmer in a holiday-shortened trading session on Friday, hovering near a five-week closing high hit earlier in the week, as investors picked up banking and telecommunication shares.
The market was closed at 0630 GMT on Friday due to a half-a-day bank holiday. The Colombo stock index ended 0.19 percent firmer at 6,540.97. The index gained 0.88 percent during the week.