TOKYO (AP) – Global markets shares were mixed yesterday, with trading closed in Tokyo and Seoul for New Year holidays.
France’s CAC 40 rose nearly 0.1 per cent to 7,307.87, while Britain’s FTSE 100 was little changed at 8,119.65. German markets are closed today with trading set to continue tomorow.
The future for the S&P 500 edged 0.2 per cent higher while that for the Dow Jones Industrial Average was up 0.1 per cent. Australia’s S&P/ASX 200 in Sydney skidded 0.9 per cent to 8,159.10. Hong Kong’s Hang Seng added nearly 0.1 per cent to 20,059.95, while the Shanghai Composite lost 1.6 per cent to 3,351.76.
Trading is set to resume in Tokyo on January 6, as markets will stay closed for the rest of the week for the New Year holidays. South Korean markets will be closed today and resume trading tomorrow.
US markets will be closed today.
They retreated on Monday. The S&P 500 shed 1.1 per cent and the Dow fell one per cent. The Nasdaq composite ended 1.2 per cent lower.
Boeing stocks declined after one of its jets skidded off a runway in South Korea, killing 179 of the 181 people aboard. South Korea is inspecting all 737-800 aircraft operated by airlines in the country.
The disaster was yet another blow for Boeing following a machinists strike, further safety problems with its troubled top-selling aircraft and a plunging stock price. Its shares have declined more than 30 per cent this year. Markets are nearing the close of a stellar year driven by a growing economy, solid consumer spending and a strong jobs market.
Investors were encouraged by inflation cooling throughout the year to close to the Federal Reserve’s (Fed) two per cent target. That raised hopes that the central bank would deliver a steady stream of interest rate cuts, which would ease borrowing costs and fuel more economic growth.
The Fed cut interest rates three times in 2024, but has signalled a more cautious approach heading into 2025 as inflation shows signs of reheating. The latest report on consumer prices showed that inflation edged slightly higher, to 2.7 per cent, in November.
President-elect Donald Trump’s threats to hike tariffs have added to worries about the potential for inflation to reignite. Companies typically pass along the higher costs from tariffs on goods and raw materials to consumers.
