Mixed Global Markets as Oil Price Falls

World stock markets were mixed on Friday following a modest decline on Wall Street the previous day. The price of oil edged lower, while major indices in Europe and Asia reported varying gains or losses.

The Shanghai Composite index rose 1% to 3,940.04 after China announced its exports grew at a slower but still robust pace of about 24% in July due to strong demand for electronics and other high-tech products. The country's huge trade surplus narrowed last month, while imports also slowed.

The S&P/ASX 200 slipped less than 0.1%, to 9,263.60 in Australia, while the Kospi in South Korea dropped 0.6% to 6,258.77 and Taiwan's Taiex fell 0.4%. The Hang Seng picked up 0.5% to 25,668.03 in Hong Kong.

The price of Brent crude slipped 0.3% at $82.26 per barrel, while U.S. benchmark crude oil edged 0.1% lower, to $77.19 per barrel. Oil prices have surged as high as $113 due to the war and higher prices have added more heat to inflation by raising the price of gasoline and raising costs for shipping.

Strong overall corporate profits have helped allay concerns on Wall Street about shares being overpriced, with roughly 85% of companies in the S&P 500 having reported their results. Outside of earnings, SpaceX rose 6.1% after a lockup period for early investors and employees expired.