| |
Global Shares Mostly Rise Tuesday 09/16 04:53
Global shares traded mostly higher Tuesday after Wall Street set new records
and investor anticipation grew that the U.S. Federal Reserve will announce the
first cut of the year to its main interest rate.
TOKYO (AP) -- Global shares traded mostly higher Tuesday after Wall Street
set new records and investor anticipation grew that the U.S. Federal Reserve
will announce the first cut of the year to its main interest rate.
France's CAC 40 edged up nearly 0.1% to 7,891.76 in early trading, while the
German DAX fell 0.2% to 23,690.86. Britain's FTSE 100 dipped 0.1% to 9,267.31.
U.S. shares were set to drift higher with Dow futures inching up less than 0.1%
to 46,277.00. S&P 500 futures rose 0.2% to 6,694.00.
In Asia, Japan's benchmark Nikkei 225 came off a holiday to momentarily
reach above 45,000 points a few times during the session, finishing at a record
44,902.27, up 0.3% from the previous close and the fourth straight session of
record closes.
The rally comes despite ongoing political uncertainty in Japan after Prime
Minister Shigeru Ishiba said he is stepping down. An election within the ruling
Liberal Democratic Party to pick a new leader is expected Oct. 4. Candidates
include Shinjiro Koizumi, the farm minister and son of former Prime Minister
Junichiro Koizumi. Another is Sanae Takaichi, who could become Japan's first
woman prime minister.
It's not clear if the chosen ruling party chief can become the nation's
leader, as the party does not have a majority in Parliament and must forge a
coalition with smaller parties.
Australia's S&P/ASX 200 edged up 0.3% to 8,877.70. South Korea's Kospi rose
1.2% to 3,449.62.
Hong Kong's Hang Seng reversed earlier declines, rising moderately before
falling again to finish little changed at 26,438.51. The Shanghai Composite
inched up less than 0.1% to 3,861.86. U.S. Treasury Secretary Scott Bessent
said after weekend trade talks in Spain that a framework deal had been reached
between China and the U.S. over the ownership of popular social video platform
TikTok.
Bessent said after the latest round of trade talks between the world's two
largest economies concluded in Madrid that U.S. President Donald Trump and
Chinese Premier Xi Jinping would speak Friday to possibly finalize the deal. He
did not disclose the terms of the agreement.
The market's main event for the week will arrive on Wednesday. That's when
the Federal Reserve will announce its latest decision on interest rates. A rate
cut could give a kickstart to the job market, which has been slowing. But
markets are in for a disappointment if the cut doesn't come.
The next economic update will arrive Tuesday, when the U.S. government will
say how much shoppers spent at U.S. retailers last month.
In energy trading, benchmark U.S. crude fell 18 cents to $63.12 a barrel.
Brent crude, the international standard, lost 19 cents to $67.25 a barrel.
In currency trading, the U.S. dollar edged down to 147.08 Japanese yen from
147.33 yen. The euro cost $1.1797, up from $1.1769.
|
|
