| |
World Shares Mixed on Wall St. Drop 12/10 04:46
World shares were mixed Tuesday after a slide for market superstar Nvidia
helped pull U.S. stock indexes lower, while tensions in the Middle East
remained high as Israel conducted heavy airstrikes across Syria.
BANGKOK (AP) -- World shares were mixed Tuesday after a slide for market
superstar Nvidia helped pull U.S. stock indexes lower, while tensions in the
Middle East remained high as Israel conducted heavy airstrikes across Syria.
Germany's DAX edged 0.1% lower to 20,322.69 and the CAC 40 in Paris fell
0.6% to 7,434.97. Britain's FTSE 100 also fell 0.6%, to 8,302.11.
The futures for the S&P 500 and the Dow Jones Industrial Average were down
less than 0.1%.
Market superstar Nvidia's shares fell 0.8% in pre-market trading, extending
a 2.6% loss Monday after China said it was investigating the company over
suspected violations of Chinese anti-monopoly laws.
The Shanghai Composite index gained 0.6% to 3,422.66 while Hong Kong's Hang
Seng shed early gains, falling 0.5% to 20,311.28 as traders sold to lock in
profits from earlier gains.
At a meeting Monday, Chinese leaders agreed on a "moderately loose" monetary
policy for the world's second-largest economy. That's the first move in 10
years away from a more cautious, "prudent" stance. A major planning meeting
expected Wednesday could also bring more support for the Chinese economy.
China reported its exports rose 6.7% from a year earlier in November, less
than expected, and imports fell nearly 4%. Recent price data also have been
weaker than anticipated, suggesting demand remains weaker than hoped for.
Tokyo's Nikkei 225 gained 0.5% to 39,367.58, while the Kospi in South Korea
jumped 2.4% to 2,417.84, recovering some of its recent losses as the country's
recent political turmoil simmered on.
On Tuesday, South Korean prosecutors were seeking to formally arrest the
former defense minister alleged to have colluded with President Yoon Suk Yeol
in imposing martial law last week, as both men are being investigated on
rebellion and other charges.
Taiwan's Taiex shed 0.6% as the government said China's military appeared to
be preparing for widely anticipated drills in response to a recent visit by its
president, Lai Ching-te's visits to Hawaii and Guam. Taiwan's defense ministry
said Monday that it has detected Chinese naval and coast guard ships entering
the Taiwan Strait and the western Pacific and that China had restricted
airspace along its southeast coast through Wednesday.
The moves have ratcheted up tensions after U.S. President-elect Donald Trump
said he would not commit to defending Taiwan if China were to invade during his
presidency.
Elsewhere in the region, Australia's S&P/ASX 200 slipped 0.4% to 8,393.00.
Markets in Thailand were closed for a holiday.
On Monday, the S&P 500 fell 0.6% and the Dow Jones Industrial Average dipped
0.5%. The Nasdaq composite pulled back 0.6%.
Nvidia's decline was by far the heaviest weight on the S&P 500. It has
skyrocketed to become one of Wall Street's most valuable companies because its
chips are driving much of the world's move into artificial-intelligence
technology.
The week's highlight for Wall Street will arrive midweek when the latest
updates on inflation arrive. Economists expect Wednesday's report to show
consumer inflation was little changed last month. A separate report on
Thursday, meanwhile, could show an acceleration in inflation at the wholesale
level.
They're the last big pieces of data the Federal Reserve will get before its
meeting next week on interest rates, where it is expected to cut its main
interest rate for the third time this year.
The Fed has been easing its main interest rate from a two-decade high since
September help the slowing jobs market, after bringing inflation nearly down to
its 2% target.
In the oil market early Tuesday, a barrel of benchmark U.S. crude gave up 23
cents to $68.14 per barrel. It rallied 1.7% Monday to settle at $68.37
following the overthrow by rebels of Syrian leader Bashar Assad, who sought
asylum in Moscow. Brent crude, the international standard, lost 21 cents to
$71.93 per barrel. On Monday it added 1.4% to $72.14 per barrel.
The U.S. dollar rose to 151.51 Japanese yen from 151.22 yen. The euro fell
to $1.0534 from $1.0555.
|
|
