Asian equities are mixed with oil tanker and trade concerns

TOKYO – Asian equities were mixed on Friday as investors took into account many factors, including alleged attacks by two oil companies in the strategic strait of Ormuz and lingering concerns over the US-US trade dispute. China.

Japan's benchmark, the Nikkei 225, edged up 0.2% to settle at 21,076.11 in the trading session. The Australian S & P / ASX 200 has recovered its previous losses and has changed little at 6.543.10. Kospi of South Korea lost nearly 0.2% to 2,099.49. Hang Seng Hong Kong has changed little, but lost 27,294.71%, less than 0.1%. The Shanghai Composite also changed little, but a little higher at 2,910.74.

Gains in the energy and internet sectors helped push stocks up on Wall Street overnight, breaking with a two-day defeat for the market over a week of trading rather agitated.

Investors are looking for the way forward and are cautiously awaiting any further development of the global trade war between the United States and China. Any continued escalation could dampen global economic growth and put an end to the longest economic expansion in US history.

The market is also planning a meeting of US Federal Reserve underwriters next week. Last week, Fed Chairman Jerome Powell unleashed a market rally after he said the central bank was ready to cut interest rates to help stabilize the economy if the trade war between Washington and Beijing began to dampen growth.

The S & P 500 index rose 11.80 points, or 0.4%, to 2,891.64. The benchmark rocked this week, opening strong on Monday and retreating for two days in a row before reversing its trajectory on Thursday. The uneven week follows the best week of the index in 2019.

The Dow Jones Industrial Average Index gained 26.96.77 points, or 101.94 points, or 0.4%. The Nasdaq composite added 7,437.13 points, or 44.41 points, or 0.6%. The Russell 2000 Small Business Equity Index climbed 16.01 points, or 1.1%, to 1,535.80.

The alleged attacks in the Strait of Ormuz are part of a climate of heightened tension between the United States and Iran. One third of all oil sold by sea, or 20% of the world total, pbades through the strait. The United States accused Iran of what it called a "escalating tension" campaign in a region crucial for global energy supply.

Economists Nicholas Mapa and Prakash Sakpal said in their report for ING that the tone of the market for the day was "wait and watch".

"The tone of the markets is mixed today, the escalation of geopolitical tensions in the Gulf region counteracts the positive sentiment of investors in the face of growing expectations with regard to easing the Fed, "says the report.

ENERGY:

The benchmark US crude plunged 29 cents to $ 51.99. It rose 2.2% to settle at $ 52.28 a barrel on Thursday. Brent crude oil, the international standard, fell 8 cents to 61.23 dollars a barrel.

CURRENCIES:

The dollar fell to 108.32 Japanese yen against 108.44 yen on Thursday. The euro has weakened to 1.1278 USD against 1.1294 USD.

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Damian J. Troise and Alex Veiga, editors of AP Business magazine, contributed to this report.

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