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Chase Franklin News International - Asian stocks, dollar subdued after Wall St losses

 


Stocks got off to a lackluster start and the dollar was on the back foot in early Asian trading on Friday after downbeat results cast a shadow over Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was slightly lower, while Australian shares. AXJO slipped about 0.3 percent. The dollar index, which tracks the greenback against a basket of six major currencies, was last down 0.1 percent at 80.917 .DXY.

 

The greenback slipped 0.1 percent to 104.26 yen, but remained well off a four-week low of 102.85 set on Monday. Against the euro, the dollar treaded water at $1.3613. On Thursday, the Standard & Poor’s 500 .SPX backed away from a record high struck in the previous session, after disappointing earnings from banks including Goldman Sachs (GS.N) and Citigroup Inc (C.N), though some noted that the broader impact was limited. “The market has not made much of the news with regard to global growth, though, as oil prices remained broadly unchanged and non-financial stocks broadly outperformed,” strategists at Barclays said in a note to clients.

 

U.S. crude futures rose about 0.1 percent to $94.06 a barrel, not far from a two-week peak of $94.64 reached earlier this week after U.S. government data showed a larger-than-expected drop in inventories.