Asian shares and U.S. stock futures were lower and the euro skidded in early Asian trading on Monday in the wake of Friday's deadly attacks in Paris, with stocks taking their cue from poor investor appetite for risk after the assault and Wall Street's steep losses.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 percent in early trade after losing 1.4 percent on Friday and more than 3 percent for the week. Australian shares was down 0.6 percent after touching a more than one-month low. The Nikkei stock index tumbled 1.3 percent in early trade, nearly wiping out last week's 1.7 percent gain, the fourth weekly rise in a row. S&P 500 futures were down 0.7 percent, after shedding about 1 percent in light volume in late trading on Friday. News of the attacks by gunmen and bombers that killed 132 people in the French capital came after U.S. markets closed for the day. The Dollar Index, which tracks the greenback against a basket of six major rivals, added about 0.1 percent to 99.085.
Crude futures registered their biggest weekly loss in eight months, losing 8 percent on the week for their worst performance since March, as growing inventories stoked fears of oversupply. Crude prices rebounded in early Asia on Monday as investors took advantage of a sharp fall in prices last week to square positions. Futures retraced some of the lost ground in early Asian trade. Brent was up 0.3 percent at $44.62 a barrel after shedding 1 percent on Friday, while U.S. crude was up about 0.4 percent at $40.89 a barrel after giving up 2 percent. On the New York Mercantile Exchange, crude oil for delivery in December rose 0.39% to $40.90 a barrel.
Gold prices gained in Asia on Monday in possible safe haven reaction to the deadly weekend attacks in Paris and on expectations for further monetary easing in China. Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.98% to $1,091.50 a troy ounce on Friday. Also on the Comex, silver futures for December delivery jumped 1.24% to $14.380 a troy ounce. while copper futures eased 0.21% to $2.158 a pound. Spot gold added about 0.5 percent to $1,089.51 an ounce, moving away from its low on Thursday of $1,074.26, which was its deepest nadir since February 2010.
The yen gained on Monday after disappointing GDP data that highlighted the lack of price pressure in an economy awash with liquidity. USD/JPY changed hands at 123.37, down 0.19%, after quarter-on-quarter third quarter GDP fell 0.2%, compared to an expected 0.1% drop, while the year-on-year pace slumped 0.8%, compared to a 0.2% drop seen. Earlier in New Zealand, retail sales quarter-on-quarter in the third quarter rose 1.6%, beating an expected 1.3% gain. NZD/USD traded at 0.6529, down 0.15% after the data. AUD/USD changed hands at 0.7104, down 0.36%.