Markets mostly rose on Friday.
The S&P 500 rose 0.4 percent and the STOXX Europe 600 rose 0.5 percent but the Nikkei 225 was flat.
“The fundamental headlines in terms of market weakness don’t seem to be there right now, but valuations look a little stretched and investors may take a pause from the momentum we’ve been seeing,” said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute, of the US stock market.
“The overall recovery in the euro area is going from strength to strength at a time when people are increasingly optimistic about the global economy,” said Craig Erlam, senior market analyst at Oanda.
In Japan, investors are assessing the impact of the launch of new national party Kibo no To by Tokyo Governor Yuriko Koike.
“Investors may still be worried about some pledges of Kibo no To, such as freezing the scheduled consumption tax hike, but have learned that Prime Minister Shinzo Abe and Koike share many values as conservative politicians,” said Hideyuki Suzuki, head of the investment market research department at SBI Securities Co.
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