Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and global growth concerns weighed on investors’ minds, while the dollar sat near a three-week high.
Gold was up on Thursday morning in Asia, with investors continuing their wait for clues on when the U.S. Federal Reserve will begin asset tapering.
The dollar drifted near the middle of its range of the past month versus major peers on Thursday, as traders looked to next week’s Federal Reserve policy meeting for indications on how soon the U.S central bank will start to taper stimulus.
Oil was down Thursday morning in Asia, but retained most of Wednesday’s gains, after a larger-than-expected draw in U.S. crude oil stocks in the U.S. gave the black liquid a boost.
The S&P 500 rose on Wednesday, as a red-hot rally in energy stocks paved the way for the broader market to end its streak of daily losses.
Asian shares gave up early gains to fall again on Thursday, weighed by declines in China and Hong Kong, even after a strong lead-in from Wall Street which had also pushed the dollar to the lower end of its recent range.