Stocks are expected to be erratic due to “quadruple witching” day, when four different futures and options contracts expireThe London Stock Exchange building. Picture: REUTERS/TOBY MELVILLEWorld shares steadied on Friday above three-week lows set in the previous session though they were heading for a weekly loss on China jitters and global growth concerns, while strong US retail sales data buoyed the dollar.
“The underlying risk for markets is if Evergrande is not bailed out by the Chinese government,” said Giles Coghlan, chief currency analyst at HYCM, though he added: “I don't think Evergrande is a Lehman scenario - it's not going to be a massive systemic risk.” European shares put on a better performance, however, on track for weekly gains as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups.US stock futures, the S&P 500 e-minis, were unchanged.
Respondents to that poll also pushed back expectations for the US Federal Reserve to announce a tapering of asset purchases to November. The data also boosted the dollar, which held steady near the previous day's three-week high against an index of currencies . It was little changed against the euro at $1.1776.
Hong Kong's Hang Seng index rose 0.47%, with traders looking for oversold stocks after the benchmark posted its lowest close in 10 months the day before.
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