SINGAPORE – Shares in Australia and Japan struggled for gains on Friday, where turnover is expected to be low, as many markets in the region are closed for the start of the Lunar New Year holiday.
In Australia, the ASX 200 benchmark fell 0.21%, with financial, energy and materials sub-indices struggling for gains.
The so-called Big Four banks in the country traded mixed. ANZ shares reversed previous losses to trade up 0.12%, Commonwealth Bank shares also erased losses and rose 0.34%, Westpac traded down 0.13% and National Australia Bank lost 0.12%.
The Japanese market resumed trading after being closed on Thursday due to a holiday. The Nikkei 225 fell 0.22%, while the Topix index fell slightly below.
Coins and oil
In the foreign exchange market, the US dollar was traded almost stable against a basket of its peers. The dollar index stood at 90.417 for the last time, a touch higher than the previous close at 90.371.
The Japanese yen changed hands at 104.74 per dollar, on par with its last close at 104.72, while the Australian dollar traded almost stable at $ 0.7753.
Oil prices fell in the evening session, where OPEC and the International Energy Agency warned of the recovery in demand being hampered by new blocks related to the coronavirus.
The Brent global benchmark fell 0.5% to $ 61.14 a barrel, while US oil fell 0.8% to $ 58.24.
Reuters informed OPEC that global oil demand in 2021 will recover more slowly than expected, while the IEA said global oil supply was still outpacing demand, but Covid-19 vaccines are expected to help recover the demand.