Overnight Markets: US futures, Asia stocks retreat as China delays trade data

US futures and Asian stocks retreated on Friday, following three sessions of broad gains, as China delayed the release of trade data for January.

Mainland Chinese shares bucked the downward trend to bounce back slightly from declines earlier. The Shanghai composite rose 0.33% to close at 2,876. The Shenzhen component edged up slightly to 10,612, while the Shenzhen composite bounced 0.49% to 1,736.

China’s trade data for January, that was supposed to be released at 11.00 a.m. on Friday, will be combined with February’s trade data, according to reports.

In Hong Kong, the Hang Seng index fell led by gaming stocks listed on the bourse. Macao temporarily shut down its casinos amid the coronavirus outbreak. Shares of Melco International Development declined around 2.35%, Wynn Macau lost 1.36% and Galaxy Entertainment tumbled around 1%.

Elsewhere, Japan’s Nikkei 225 reversed gains and declined 0.19% to 23,828, while the Topix was down 0.28% to 1,732. South Korea’s Kospi dropped 1.02%.

Carmakers in Japan and South Korea fell amid fears widespread quarantine efforts in China to contain coronavirus might hit the global supply chain for various industries as Chinese factories remain shut.



Japan’s Mazda lost 3.59%, Toyota shares were off by 0.66%, Nissan was down 1.31%, Honda lower by 2.71%. South Korea’s Hyundai Motor reversed some of its earlier losses to trade down 0.76% and Kia Motors was down 1.94%.

Australia shares followed the downward trend, with the ASX 200 down 0.38% to 7,023. Miners and oil stocks declined.

In Europe, share markets declined on Friday in morning session, as investors monitor the latest coronavirus developments and breaking news on the corporate front.

The pan-European Stoxx 600 slipped 0.2% below the flatline in early trade, with autos falling 1.3% to lead losses while telecoms bucked the trend to add 0.6%.

In Germany, the DAX was down 0.42%, while France’s CAC 40 was trading 0.16% lower. In London, the FTSE 100 shed 0.66%, led by housebuilders, as investors awaited the US jobs numbers to be released today.

Earnings remained in focus as cosmetics giant L’Oreal reported an 11.4% rise in fourth-quarter revenue. The company’s shares climbed 3.4% in early trade.

Meanwhile, in the US, stock index futures were lower on Friday in morning trade, with Dow futures indicating a drop of more than 130 points at the open. Futures on the S&P and Nasdaq were both slightly lower.


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