The Wall Street stock market
The Wall Street stock market

Global Stocks Waver as Attacks Hike Risks

Global Stocks Waver as Attacks Hike Risks

Global markets wavered Tuesday as attacks in Germany and Turkey kept investors’ appetite for risk in check. The yen fell after the Bank of Japan kept its policy unchanged as expected.
Britain’s FTSE 100 fell 0.1% to 7,008.11 but France’s CAC 40 rose 0.3% to 4,835.77. Germany’s DAX was flat at 11,426.82. Futures augured a tepid start on Wall Street. S&P futures added 0.2% while Dow futures rose 0.1%, AP reported.
“A series of events were seen erupting and adding to the existing list of concerns. As the tensions between US and China look set to ease with the latter returning the seized drone as early as Tuesday, chaos was seen striking Switzerland, Germany and Turkey,” Jingyi Pan, a market strategist at IG in Singapore, said in a commentary before China handed the drone back to the United States.
Japan’s central bank kept its current monetary policy unchanged, saying the “moderate recovery” of the world’s third-largest economy was on track. Japan’s exports, its engine for growth, showed signs of recovery thanks to the yen’s depreciation and the economic recovery in the US.
“The Bank of Japan shows no sign of movement toward a taper of its stimulus programs,” said William Adams of PNC Financial Services. “Until Japan shows signs of a sustained and self-reinforcing cycle of rising wages and consumer prices, the Bank of Japan will leave policy in its current, highly expansionary stance.”
Asian markets closed mixed. Japan’s Nikkei 225 clocked another fresh high for the year, advancing 0.5% to 19,494.53, while South Korea’s Kospi added 0.2% to 2,041.94. But Hong Kong’s Hang Seng index fell 0.5% to 21,729.06 and the Shanghai Composite Index in mainland China dropped 0.5% to 3,102.88. The S&P/ASX 200 in Australia gained 0.5% to 5,591.10. India’s Sensex fell 0.3% to 26,287.43 and in Southeast Asia, stocks in Singapore, the Philippines and Indonesia were lower.
Benchmark US crude gained 8 cents to $53.14 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 11 cents to close at $53.06 a barrel. Brent crude, the international standard, gained 29 cents to $55.21 a barrel in London.
The dollar strengthened to 118.04 yen from 117.12 yen. The euro fell to $1.038 from $1.040.

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