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Market Buzz: Optimistic about China

Published time: November 09, 2012 05:29
Edited time: November 09, 2012 09:29
(AFP Photo / Allison Joyce)

(AFP Photo / Allison Joyce)

Russian markets are expected to open higher Friday as investors try to win back recent losses, while positive data from China is likely to support growth.

Russian equities fell Thursday amid declining oil prices and worries over the eurozone crisis. The MICEX shed 1.09% and the RTS retreated 1.17%.

European indexes headed south and erased early gains after Bloomberg News reported that European Union ministers would delay Greek’s much-needed bailout loan by several weeks. The Stoxx Europe 600 fell 0.2%. The French CAC 40 closed 0.1% lower, while Germany’s DAX 30 fell 0.4% on losses from Deutsche Post AG.

US stocks continued to slide Thursday as worries about the country’s upcoming fiscal challenges overshadowed stronger-than-expected data on jobless claims. The Dow Jones fell 0.4% to its lowest close since late July. The S&P 500 declined 1.2% and the Nasdaq ended at its lowest position since the end of July.

Asian markets traded lower Friday, weighed down by concerns about the US ‘fiscal cliff’ and Europe's debt crisis. Japan's Nikkei lost 0.8%, and South Korea's Kospi and Australia's S&P/ASX 200 both fell 0.5%. In China, Hong Kong's Hang Seng retreated 0.4%, while the Shanghai Composite added 0.15% after Chinese data showed lower-than-expected inflation in October.

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