TOKYO (AP) – Global shares were mixed yesterday after a wobbly day on Wall Street following the Federal Reserve announcement it would leave interest rates unchanged.
France’s CAC 40 rose 0.3 per cent in early trading to 5,875.59, while Germany’s DAX was also up 0.3 per cent at 13,184.53. Britain’s FTSE 100 gained 0.3 per cent to 7,237.26.
United States (US) shares were set to drift higher with Dow futures adding 0.1 per cent at 27,955. S&P 500 futures rose 0.1 per cent at 3,147.
The US market shook off a mixed start after the Federal Reserve said it would leave interest rates unchanged and signalled it expected to leave them alone in 2020 as well.
The central bank had been expected to leave its benchmark interest rate unchanged this month after cutting it three times this year to shield the economy from slowing global growth and the fallout of US trade conflicts.
Japan’s benchmark Nikkei 225 edged 0.1 per cent higher to finish at 23,424.81, while Australia’s S&P/ASX 200 lost 0.7 per cent to 6,708.80. South Korea’s Kospi jumped 1.5 per cent to 2,137.35. Hong Kong’s Hang Seng was up 1.3 per cent at 26,994.14, while the Shanghai Composite stood at 2,915.70, down 0.3 per cent.
Shares rose in Taiwan but were mixed in Southeast Asia.
Investor jitters over whether the US and China will be able to avert a new escalation in their trade war has made for choppy trading this week, pulling major indexes lower.
Investors are hoping that both sides can avoid a new round of tariffs scheduled to kick in Sunday on Chinese goods that include phones, laptops and other popular products.
“The fact is the big event risk remains in place, with the world watching to see if the 15 per cent tariffs kick in on USD160 billion of Chinese exports on Sunday,” Chris Weston of Pepperstone said in
ENERGY: Benchmark crude oil added eight cents to USD58.84 a barrel in electronic trading on the New York Mercantile Exchange. It fell 48 cents to USD58.76 a barrel on Wednesday. Brent crude oil, the international standard, gained 20 cents to USD63.92 a barrel.
CURRENCIES: The dollar inched up to JPY108.65 from JPY108.60. The euro rose to USD1.1135 from USD1.1130.