STOCK EXCHANGES AROUND THE WORLD
US stocks down after talks of delisting Chinese companies
U.S. stocks fell on Friday after news that the Trump administration was considering delisting Chinese companies from US stock exchanges and limit US investments into China.
The tariff-sensitive Philadelphia semiconductor index extended its decline to 2.7%. The index was already under pressure from Micron Technology Inc’s tumble after it forecast a disappointing first-quarter profit.
The S&P technology sector dropped 1.8%. U.S.-listed shares of Alibaba Group Holding Ltd, Baidu Inc and JD.com Inc were sharply lower
High-level trade talks between Washington and Beijing are scheduled for next month before the start of the third-quarter earnings season.
The main US indexes ended the day as Dow Jones Industrial Average fell 162.36 points, or 0.6%, to 26,728.76, the S&P 500 lost 30.49 points, or 1.02%, to 2,947.13 and the Nasdaq Composite dropped 136.58 points, or 1.7%, to 7,894.08.
The three main indexes are set to end lower in a volatile week, which included US Democrats launching an impeachment investigation on President Donald Trump.
Pakistan bourse turns bullish with gain of 637 points
Bulls returned to the Pakistan bourse on Friday as stocks rallied and the benchmark KSE-100 index soared 637 points. Following two bearish sessions, the stock market exhibited a U-turn and erased losses of the past two days. After a brief open in the positive zone, the market fell, but robust investor sentiment again took it into the positive territory.
The first session ended with a gain of 215 points. The second session also opened positive and the rally continued, helping the market close with considerable gains. At close, the benchmark KSE 100-share Index recorded an increase of 636.92 points, or 2.03 percent, to settle at 32,070.81 points. Trading volumes were up 9 percent day-on-day to 135 million shares while traded value swelled 21 percent to $27 million. Overall, trading volumes increased to 135.2 million shares compared with Thursday’s tally of 124.5 million. The value of shares traded during the day was Rs4.3 billion. Shares of 344 companies were traded. At the end of the day, 249 stocks closed higher, 76 declined and 19 remained unchanged. K-Electric was the volume leader with 17.6 million shares, gaining Rs0.11 to close at Rs3.63.
FTSE 100 hits near 2-month high
London’s FTSE 100 index hit a near-two-month high on Friday, outperforming European peers, as exporters were bolstered by an ailing pound after a Bank of England policymaker hinted at an interest rate cut, while hopes of a US-China trade deal also lifted the mood.
The globally-exposed FTSE 100 .FTSE jumped more than 1 percent, surprisingly ending the week in the black thanks to substantial gains in the last two sessions. A lack of any major chipmaker presence shielded the index from a profit warning from Nasdaq-listed Micron Technology, helping it outperform European’s main index. The domestically-focused FTSE 250, which had broken ranks with sterling, rose 0.8 percent.
India Sensex closes 167 points lower
India stock markets fell on Friday amid volatile trade, a day after benchmark indices rose more than 1 percent each. The S&P BSE Sensex index rose as much as 117.63 from the previous close to touch 39,107.37 on the upside, but only to remain positive for the day briefly before breaking 324.77 points from there to hit 38,782.60 at the session’s weakest level.
Weakness across sectors – led by automobile, metal and pharmaceutical shares – dragged the markets lower. The broader NSE Nifty benchmark slid as much as 87.8 points from an intraday high of 11,593.60 to hit 11,505.80 at the weakest level of the day. A majority of stocks on the 50-scrip Nifty index stayed in the negative zone for the most part of the day.
Japan stocks higher; Nikkei 225 up 0.13pc
Japan stocks were higher after the close on Thursday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.
At the close in Tokyo, the Nikkei 225 gained 0.13 percent. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2195 to 1347 and 212 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00 percent to 17.61. Crude oil for November delivery was down 0.39 percent or 0.22 to $56.27 a barrel.
France stocks advance
France stocks were higher after the close on Friday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher.
At the close in Paris, the CAC 40 rose 0.36 percent, while the SBF 120 index climbed 0.39 percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 304 to 251 and 96 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 2.29 percent to 15.93. Gold Futures for December delivery was down 0.37 percent or 5.65 to $1509.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 1.19 percent or 0.67 to hit $55.74 a barrel, while the November Brent oil contract fell 1.82 percent or 1.14 to trade at $61.60 a barrel.