Asian markets mostly higher as Europe ends mixed and New York declines

Global equities markets were mixed on Friday, with Asia Pacific markets mostly up, but Europe well mixed and the US lower at midday and over the week.

Markets were mostly up in the Asia Pacific Region. The main exception was the Hang Seng index in Hong Kong, which dropped 0.11 percent to 19,800.93. The Straits Times index in Singapore added 0.34 percent to 3,231.24, while the Sydney Ordinaries in Australia gained 0.6 percent to 5,978.8 and the Sensex in India was 0.71 percent higher, to 13,072.1.

The Tokyo markets ended the session higher, but not too much higher. The Nikkei 225 ended the day at 17,287.65, up 0.14 percent, while the Topix index gained 0.2 percent to 1,713.61. The real estate sector was up on the day. In a related sector, home builder Sekisui House (TYO: 1928; OTC: SKHSY) gained on the news that consumer electronics and entertainment conglomerate Sony (TYO: 6758; NYSE: SNE) will sell part of its former headquarters site to the builder.

European markets were mixed, but most moved very little on the day. The FTSE Eurofirst 300 was down, but just by 0.08 percent to 1,515.78. In Paris, the CAC-40 added 0.05 percent to 5,634.16, while the Xetera Dax gained 0.29 percent to 6,917.03 in Frankfurt. Banks were higher on profit taking, with German banks up after Citigroup (NYSE: C) implied earlier in the week that it might be looking for an acquisition in Germany. The European airlines sector was mixed. Spanish air carrier Iberia (IBEX-35:IBLA) was lower on a low private equity bid, but Alitalia (ISE: AZA10) gained on bids hopes.

In London, the FTSE 100 dropped 0.26 percent to 6,308 but the FTSE 250 was 0.2 percent higher to 11,689.3. Those results meant a decline of 0.5 percent for the 100 over the week, while the FTSE was 0.1 percent lower over five sessions. The declines were at least partly pinned on tensions over the capture of 15 British naval personnel by Iran. Losers included Vodafone Group (LSE: VOD; NYSE: VOD; FWB: VOD), on a trading update that showed pressure on the telecommunications company’s profit margins in the UK. Hedge fund Man Group (LSE: EMG) was also down after it said that it would demerge its US brokerage and list in in New York. Scottish & Newcastle gained on rumors that it might soon receive an offer.

Wall Street was down in midday trade after the US Commerce Department said that it will impose duties on some imports from China. In addition, investors remained worried about the situation involving Iran. Problems in the house building and mortgage sectors didn’t help. The Dow Jones Industrial Average was 0.4 percent lower on the session so far to 12,299.72, a drop of 1.5 percent on the week. The Nasdaq Composite was also down 1.5 on the week, to 2,411.38. The S&P 500 had fallen 0.5 percent to 1,415.16, also 1.5 percent lower for the week. Home builders saw losses on a warning from Lennar (NYSE: LEN) and after Beazer Homes (NYSE: BZH) said it was cooperating with government investigations into its dealings, especially its mortgage unit. The paper sector, however, saw gains on the tariffs news.

Story link: Asian markets mostly higher as Europe ends mixed and New York declines