Global benchmark Brent was up 0.08 percent at $51.42 a barrel, after dropping 2.5 percent in the U.S. session. The November contract for U.S. crude futures ended down 2.3 percent at $50.43 before expiring. The new December front-month traded up 0.02 percent at $50.64, Reuters reported.
Some attributed the weakness in Asian shares early Friday to odds now favoring an increase in U.S. interest rates in December. The Nikkei 225 was one of the few markets up and there it was only marginally up 0.05%. The Hong Kong Hong Send was closed in early trading owing to typhoon risks.The ASX 200 dropped 0.56%, the New Zealand NZX50 was off 0.20% and the Korean Kospi was also down 0.25% as was the Singapore Straits Times Index down 0.3%.
Part of the strength in the Nikkei stemmed from the stronger dollar as it climbed to 98.38 up from 97.80 earlier in the week. and a weaker yen that helped exporters. The yen was at 104.09.
Analysts said the dollar index was also boosted by a relatively weaker euro, which fell below $1.095 from levels above $1.10 the previous week, after the European Central Bank opted to keep interest rates unchanged in a widely expected decision, but also said it didn't discuss extending its quantitative-easing program beyond the March 2017 expiration, according to Reuters.
The WSJ reported: In China, the Shanghai Composite Index was down 0.1% as concerns over a weakening yuan overshadowed the positive impact from latest housing price data, which showed that the frenzy over real estate had slowed down. China’s central bank Friday fixed the midpoint reference rate for onshore yuan against U.S. dollar to a new six-year low, renewing worries over the continued depreciation of the currency.
Gold edged down on Friday at 1263.10 an ounce as the dollar firmed, but could still close out with the first weekly gain in a month.
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