Global markets mostly lower, but China books gains

SEOUL, South Korea - Global stock markets were mostly lower on Friday while stocks in mainland China extended their gains on expectations of further policy easing.

European markets opened mixed with Britain's FTSE 100 up 0.4 percent at 7,090.82 and France's CAC 40 adding 0.1 percent to 5,227.91. Germany's DAX was down 0.2 percent at 11,979.03. Futures showed that Wall Street was headed for a lackluster day: S&P 500 futures were down 0.6 percent and Dow futures dropped 0.7 percent

The Shanghai Composite index rose 2.2 percent to 4,287.30 while South Korea's Kospi was up 0.2 percent at 2,143.50. Hong Kong's Hang Seng shed 0.3 percent to 27,653.12. Japan's Nikkei 225 fell 1.2 percent to 19,652.88, while Australia's S&P ASX 200 was down 1.2 percent at 5,877.90.

Stocks in Shanghai continued their gains after data showed that China's economy grew at the slowest pace since 2009 during the first quarter. The data stoked expectations that the country would introduce further stimulus measures to achieve its annual growth target.

"Today looks like being a Friday consolidation for the stock market as traders head into the weekend with little in the way of news scheduled for the Asian region," said Ric Spooner, chief market analyst at CMC Markets.

Analysts said Asian markets were little affected by worries that Greece could default on its debts, which shot the country's borrowing costs higher. The latest jitters followed a report Thursday in the Financial Times that Greece made an "informal approach" to the International Monetary Fund to have its bailout repayments delayed. Many in the markets think the Greek government will struggle to make a payment to the IMF due next month if it fails to reach a deal in negotiations with European creditors.

The Labor Department reports on consumer prices for March on Friday. In February, a slight rise in gas costs and broad increases in other categories lifted consumer prices, a welcome sign after three straight months of declines that had pointed to excessively low inflation.

U.S. benchmark crude oil slipped 60 cents to $56.11 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 32 cents to settle at $56.71 on Thursday, refreshing its highest price this year. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 57 cents to $63.41 per barrel in London.

The dollar weakened to 118.81 yen from 118.98 yen while the euro strengthened to $1.081 from $1.077.

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