Global Stocks Mixed on Wednesday 07/28 05:14
Global stock markets were mixed Wednesday after Wall Street pulled back from
a record as investors awaited a Federal Reserve report for signs of when U.S.
stimulus might be withdrawn.
BEIJING (AP) -- Global stock markets were mixed Wednesday after Wall Street
pulled back from a record as investors awaited a Federal Reserve report for
signs of when U.S. stimulus might be withdrawn.
Investors also were uncertain how much farther China will go with a
regulatory crackdown that set off a slide in its internet share prices.
London and Frankfurt opened higher while Shanghai and Tokyo declined. U.S.
futures were mixed.
Investors were looking for an update from a Fed board meeting that began
Tuesday on when the U.S. central bank might start to reduce bond purchases that
inject money into financial markets and keep interest rates low.
"A few winds are blowing against a tapering statement," said Jeffrey Halley
of Oanda in a report, "not least the delta variant sweeping the Asia Pacific
with an inevitable knock-on to its recovery."
In early trading, the FTSE 100 in London gained 0.1% to 7,003.94 while the
DAX in Frankfurt added 0.2% to 15,558.43. The CAC 40 in Paris rose 0.7% to
On Wall Street, the future for the benchmark S&P 500 index was up 0.2% while
that for the Dow Jones Industrial Average was off less than 0.1%.
On Tuesday, the S&P 500 fell 0.5% while the Dow dropped 0.2%. The Nasdaq
Investors were digesting U.S. earnings reports while growth worries
increased after the Centers for Disease Control and Prevention recommended even
vaccinated people return to wearing masks indoors in areas where the
coronavirus's more contagious delta variant is spreading.
In Asia, the Shanghai Composite Index lost 0.6% to 3,361.59, declining for a
third day, while the Nikkei 225 in Tokyo fell 1.4% to 27,581.66. The Hang Seng
in Hong Kong gained 1.5% to 25,473.88.
The Kospi in Seoul lost 0.1% to 3,236.86. Sydney's S&P-ASX 200 gave up 0.7%
India's Sensex lost 0.4% to 52,383.14. New Zealand gained while Southeast
Asian markets declined.
Shares in Chinese internet giants slid for a third day as investors waited
for possible new action after Beijing stepped up anti-monopoly and data
security enforcement against the industry. They were reported to be considering
restrictions on for-profit education ventures.
Games and social media giant Tencent Holding Ltd. was up 0.3% in Hong Kong,
though it still is down 25% for the month. E-commerce giant Alibaba Group
shares in Hong Kong were up 1.8% but off 15% for the month.
In energy markets, benchmark U.S. crude rose 43 cents to $72.08 per barrel
in electronic trading on the New York Mercantile Exchange. Brent crude oil, the
basis for international oil prices, advanced 38 cents to $73.90.
The dollar advanced to 109.92 yen from Tuesday's 109.72 yen. The euro rose
to $1.1824 from $1.1786.