TOKYO (AP) – Global stocks were mostly lower in muted trading Friday, after Wall Street was closed for Thanksgiving, but China’s market fell sharply as investigations into the securities industry widened to include two top brokerages.
KEEPING SCORE: France’s CAC 40 slipped 0.5 percent to 4,921.22 and Germany’s DAX edged down 0.1 percent to 11,309.69. Britain’s FTSE 100 fell 0.5 percent to 6,362.94. U.S. shares were also set to drift lower in an abbreviated trading session. S&P 500 futures dipped 0.1 percent to 2,085.40. Dow futures dropped 0.2 percent to 17,761.00.
CHINA PROBE: Two major Chinese brokerages announced they are under investigation for possible violation of securities market rules in the latest aftershock of this summer’s market plunge. A string of Chinese securities executives have been detained or questioned following a plunge in share prices that began in early June. The investigations were seen by many as an attempt by the ruling Communist Party to deflect blame for a market bubble that it engineered.
ASIA’S DAY: China’s Shanghai Composite was down 5.5 percent at 3,436.30 after earlier falling more than 6 percent. Japan’s benchmark Nikkei 225 retreated 0.3 percent to 19,883.94 and South Korea’s Kospi fell 0.1 percent at 2,028.99. Hong Kong’s Hang Seng dropped 1.9 percent to 22,068.32. Other regional markets were also lower, falling in Taiwan, Australia, the Philippines, Indonesia, Singapore and Thailand.
RUSSIA-TURKEY: Markets have been wary about geopolitical tensions after Turkey downed a Russian plane that entered its territory from war torn Syria. Russian President Vladimir Putin has said his nation is ready to cooperate with the U.S.-led coalition fighting the Islamic State group, while criticizing the U.S., saying it should have prevented its coalition ally Turkey from making such a move.