Australia

Australian shares were down Saturday morning following an uneasy session for global markets. US indices managed small gains on Friday as investors looked toward upcoming central bank meetings. The Federal Reserve, European Central Bank, and Bank of Japan are each scheduled to make monetary policy decisions this week.

ASX futures were 25 points or 0.4% lower as of 6:00am on Saturday, suggesting losses at the open.

US stocks rose Friday afternoon, putting all three major indices on course to post gains for the week.

The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite each added 0.1%. The S&P 500 managed a fresh 52-week high, ending its fourth straight week of gains, while the Nasdaq Composite chalked up its seventh straight weekly gain.

Trading was relatively quiet the past several days, with investors largely in a wait-and-see mode ahead of next week's inflation data and Federal Reserve interest rate decision.

In commodity markets, Brent crude oil declined 1.5% to US$74.84 a barrel while gold lost 0.3% to US$1,960.20.

Australian government bonds were lower, with the 2 Year yield dipping to 3.99% and the 10 Year yield falling to 3.95%. US Treasury notes were higher, with the 2 Year yield rising to 4.61% and the 10 Year yield increasing to 3.75%.

The Australian dollar increased to 67.39 US cents from its previous close of 67.13. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, edged up to 97.23.

Asia

Chinese stocks ended higher Friday, picking up from their recent muted pattern. The benchmark Shanghai Composite Index rose 0.55% to 3231.41. The Shenzhen Composite Index edged up 0.7% to 2006.45 and the tech-heavy ChiNext Price Index gained 0.9% to 2143.01. Game developers and bus manufacturers led the upturn. 37 Interactive Entertainment jumped 10% to hit the daily increase limit and Hubei Century Network rose 8.0%. Bus and commercial vehicle makers CIMC Vehicles and Xiamen King Long Motor added further support, respectively gaining 4.4% and 3.3%.

Hong Kong stocks ended higher, sustaining a slight recovery for the second day. The benchmark Hang Seng Index rose 0.5% to settle at 19389.95. A wide range of sectors offered support for the market. Jewelery maker Chow Tai Fook jumped 3.6% to lead the pack, after the company pleasantly surprised investors with a special dividend in its latest earnings release. Biotech firm Wuxi Biologics rose 3.0% and brewery China Resources Beer added 2.9%.

Japanese stocks closed higher, led by gains in trading houses and retail shares, as fears eased about the scope of policy tightening by central banks. Marubeni Corp. gained 4.6% and Fast Retailing climbed 4.6%. The Nikkei Stock Average leaped 2.0% to 32265.17.

Indian stocks fell Friday, with the Sensex closing down 0.35% at 62625.63. The local market was not able to sustain opening gains and began to show gradual weakness that persisted until the close, with intraday rebounds sold, summarized Nagaraj Shetti, technical research analyst at HDFC Securities. The worst performers on the Sensex included Tata Steel, which fell 2.0%, State Bank of India, which shed 1.7%, and HCL Technologies, which lost 1.5%.

Europe

European stocks fell Friday as investors turned cautious ahead of key interest rate decisions next week. The pan-European Stoxx Europe 600 dropped 0.2%, the German DAX shed 0.3% and the French CAC 40 slipped 0.1%.

"It's been another quiet day for European markets at the end of a choppy but directionless week that has seen investors attempt to find the next big catalyst to drive the next move," CMC Markets analyst Michael Hewson wrote. This may come next week when the Federal Reserve, European Central Bank and Bank of Japan deliver rate decisions on June 14, 15 and 16 respectively, he said.

In London, the FTSE 100 Index closed Friday down 0.5% at 7562 points, in line with its European peers. Croda International shares dragged the index into negative territory with a fall of 12.45% after the specialty chemicals group issued a profit warning on the back of a sharp drop in volume sales that is expected to continue, Michael Hewson explained. The list of top fallers was followed by Smurfit Kappa and Beazley, down 3.1% and 2.9%, respectively.

North America

US stocks rose Friday afternoon, putting all three major indices on course to post gains for the week.

The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite each added 0.1%. The S&P 500 managed a fresh 52-week high, ending its fourth straight week of gains, while the Nasdaq Composite chalked up its seventh straight weekly gain.

Trading was relatively quiet the past several days, with investors largely in a wait-and-see mode ahead of next week's inflation data and Federal Reserve interest rate decision.

Underneath the surface, though, various stocks staged big rallies, helping lift the S&P 500 out of a bear market on Thursday and setting the Nasdaq Composite on course for its longest streak of weekly gains since 2019.

Tesla, which surged all week long, extended its rally on Friday after General Motors said it would produce electric vehicles with Tesla charge ports starting in 2025. Its shares closed up 4.1%.

Chipmakers also rose, adding to already substantial gains for the year. Shares of companies like Nvidia and Advanced Micro Devices have soared, thanks to rising interest among investors in companies at the forefront of artificial intelligence and computing.