Asian equities pared gains as rally in Chinese technology shares fizzled while crude oil jumped above $100 a barrel on war bets.
The CSI300 and HSI inched down by 0.44% and 1.85% while KOSPI marginally down by 0.01%. The MSICI Asian broad market index ex Japan is trading higher by 3.95%.
S&P 500 and Nasdaq 100 contracts fell after the best three-day rally in U.S. stocks since 2020.
The war between Russia and Ukraine continues to shape sentiment in the market. JPMorgan Chase & Co. processed funds of coupon payments due on Russian sovereign bonds.
President Joe Biden and his Chinese counterpart Xi Jinping are due to discuss the war later Friday. The Biden administration is concerned that Xi may be moving closer to supporting Moscow. The U.S. president will warn of “costs” if China backs Russia, Secretary of State Antony Blinken said.
U.S. treasuries dipped while dollar was steady.
Crude oil pared price level below $100 a barrel and extended gains with WTI trading near $105 a barrel and Brent near $108 a barrel.
