HONG KONG (AP) — World stocks drifted on Friday, with markets in China edging slightly higher as investors stayed cautious ahead of a major holiday and details from the highly anticipated unveiling of a free trade zone in Shanghai. Stocks in Tokyo slid after Japan's inflation spiked.
In early European trading, the FTSE 100 index of leading British companies dropped 0.3 percent to 6,544.13 while Germany's CAC 40 retreated 0.1 percent to 8,652.53. France's CAC 40 dipped 0.1 percent to 4,181.34.
U.S stocks were poised to fall. Dow futures fell 0.1 percent to 15,241.00 while broader S&P 500 futures edge 0.2 percent lower to 1,688.50.
Hong Kong's Hang Seng Index rose 0.3 percent to close at 23,207.04 while in mainland China, the Shanghai Composite Index advanced 0.2 percent to 2,160.03.
Markets in China were subdued ahead of the launch Sunday of a pilot free trade zone in Shanghai.
"In China, investors and businessmen are awaiting the details of the Shanghai Free Trade Zone," Frances Cheung, a strategist at Credit Agricole CIB, wrote in a research note.
China's leaders have already loosened restrictions on foreign investment in the 29-square-kilometer (11.2-square-mile) zone. Further details are expected when the zone is inaugurated.
