Asian markets mixed ahead of Trumps inauguration
jamna news desk: Asian markets were mixed in cautious trading Friday ahead of the inauguration of President-elect Donald Trump. China's report that its economy grew at a 6.8 percent pace in October-December was in line with expectations.
Keeping Score: Tokyo's Nikkei 225 index edged up 0.1 percent to 19,088.59 and the Shanghai Composite Index added 0.5 percent to 3,118.17. Sydney's S&P-ASX 200 fell 0.6 percent to 5,660.30 , Hong Kong's Hang Seng shed 0.6 percent to 22,904.67 and South Korea's Kospi dipped 0.2 percent to 2,067.86. Southeast Asian markets were also mixed.
Trump's Inauguration: The Dow Jones industrial average erased its gains for 2017 on Thursday, falling for the fifth day in a row as the post-election Trump rally waned ahead of the presidential inauguration. Investors will be looking for clues in Trump's inauguration speech for his plans on fiscal stimulus, tax cuts and trade.
Wall Street: The Dow fell 72.32 points, or 0.4 percent, to 19,732.40. That's slightly below where it finished 2016, but not far from its record closing high of 19,974.62, set one month ago. The Standard & Poor's 500 index slid 8.20 points, or 0.4 percent, to 2,263.69. The Nasdaq composite gave up 15.57 points, or 0.3 percent, to 5,540.08.
Analyst Quotes: "Markets are now waiting for more evidence that Donald Trump will deliver on fiscal stimulus and deregulation but uncertainty remains high about what he will do on trade," Shane Oliver of AMP Capital said in a commentary. "The risk of a tit-for-tat trade war between the U.S. and China is high, particularly if Trump formally brands China a currency manipulator."
China's GDP: Shares in Shanghai and Shenzhen rose after the government said the economy grew at a 6.8 percent annual rate in the last quarter. Full year growth was 6.7 percent, the the weakest in three decades as a potential trade battle with U.S. President-elect Donald Trump looms.
Energy: Benchmark U.S. crude gained 19 cents to $52.31 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 23 cents Thursday to close at $52.12. Brent crude, used to price international oils, rose 23 cents to $54.39 in London. It added 24 cents the previous session to $54.16.
Currency: The dollar fell to 114.73 yen from Thursday's 114.80. The euro rose to $1.0681 from $1.0659.