The US market witnessed mix trade on Friday. New home sales in the US slipped 1.6 per cent in February. David Mann, Regional Head-Research at Standard Chartered said that the US housing market is not out of woods yet. "The job situation is improving. There is an economic recovery in sight but it is too fragile," he added. Meanwhile, Facebook purchased 750 patents from IBM to bolster its defense against rivals from patent infringement lawsuits. Also, the World Bank has received three nominations for the post of its president, including US President Barack Obama's pick Jim Young Kim.
