GLOBAL MARKETS 
DJIA*             34194.06     95.96     0.28% 
Nasdaq*           11285.32    110.91     0.99% 
S&P 500*           4027.26     23.68     0.59% 
FTSE 100           7466.60      1.36     0.02% 
Nikkei Stock      28344.04    -39.05    -0.14% 
Hang Seng         17471.94   -188.96    -1.07% 
Kospi              2440.65     -0.68    -0.03% 
SGX Nifty#        18626.00     -42.0    -0.22% 
#Dec contract 
 
USD/JPY     138.69-70  +0.05% 
Range       139.05   138.47 
EUR/USD     1.0411-14   0.00% 
Range       1.0417   1.0397 
 
CBOT Wheat Dec* $7.934 per bushel 
Spot Gold $1,752.78/oz -0.1% 
Nymex Crude (NY)* $77.48 -$3.47 
 
*Markets in the U.S. were closed Thursday for Thanksgiving. 
 
EUROPEAN STOCKS

U.S. markets were closed Thursday for Thanksgiving.

European shares mostly rose as investors remained upbeat, while U.S. markets stayed closed for the Thanksgiving holiday.

The Stoxx Europe 600 gained 0.5%, the FTSE traded broadly flat, the CAC 40 advanced 0.4% and the DAX ticked up 0.8%.

"European markets have enjoyed a relatively positive day, as the Thanksgiving celebrations brought lower volumes and volatility," IG analyst Joshua Mahony writes.

"The latest German Ifo business climate survey released in the morning provided grounds for optimism just a day after the release of PMI surveys that eased fears of a sharp recession in the region." 


 
 
ASIAN STOCKS

Japan's Nikkei Stock Average edged 0.2% lower to 28359.51 in morning trade amid mild JPY strength, which undermines the earnings of export-oriented Japanese companies and possible position adjustments. However, losses may be limited amid gains in U.S. stock futures. USD/JPY was at 138.55, compared with 138.91 as of Thursday's Tokyo stock-market close.

South Korea's benchmark Kospi edged 0.2% lower to 2436.33 in early trade, as online gaming and internet stocks retreated. A decision overnight by local crypto exchanges to stop trading gaming tokens by videogame developer WeMade over its alleged false listing information was weighing on investor sentiment. WeMade slumped by the daily limit of 30% in the tech-heavy Kosdaq market. Online gaming stocks in the main Kospi bourse were also retreating.

Hong Kong's Hang Seng Index fell 0.7% to 17536.21, as China's zero Covid policy remained in focus. Covid infections are hitting new highs across China and local governments may have to resort to either some form of movement restrictions or a full lockdown, said Saxo Markets strategist Charu Chanana in a note.

Chinese shares fell in early trade, as new daily Covid-19 cases continue to rise to record levels and lockdown measures weigh on economic activity. Property developers bucked the overall downtrend amid the prospect of funding support from state-owned lenders. The Shanghai Composite Index declined 0.2% to 3081.75, the Shenzhen Composite Index gave up 0.5% and the ChiNext Price Index was 0.6% lower. 


FOREX

Asian currencies consolidated against the USD in the morning session ahead of the weekend. There are no major U.S. economic data releases or FOMC speeches today to influence views on FOMC policy, said Carol Kong, economist and currency strategist at CBA, in a research report. Hence, USD will probably be guided by views on China's Covid-19 policy and economy into the weekend, Kong added. USD/KRW rose 0.2% to 1,330.11 while USD/THB edged 0.1% lower to 35.74 and AUD/USD was down 0.1% at 0.6758. 


METALS

Gold edged lower in the early morning Asian session on possible position adjustments, but is likely to be supported by lower Treasury yields. The precious metal has hugely benefited from the Fed's "dovish pivot" if it can even be called that, as policymakers seemed to support a slower pace of tightening, which was backed up by the FOMC minutes, said Craig Erlam, senior market analyst at Oanda, in an email. Spot gold was down 0.1% at $1,752.78/oz. 


OIL SUMMARY

Oil edged higher in early Asian trade on mild USD weakness, although analysts say gains may be capped. China's road traffic is drifting lower in recent weeks amid rising Covid-19 cases, which could be a major drag on oil demand, ANZ Research analysts said in a research report. U.S. gasoline demand is also waning as the travel season there ends, the analysts added. Front-month WTI crude oil futures were 0.4% higher at $78.28/bbl; front-month Brent crude oil futures were 0.1% higher at $85.46/bbl. 


 
 
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(END) Dow Jones Newswires

11-24-22 2215ET