Global Shares Mostly Lower Thursday 03/22 05:58
Shares were mixed in Asia on Thursday after U.S. stock indexes finished with
small losses following the Federal Reserve's interest rate hike.
BANGKOK (AP) -- Shares were mixed in Asia on Thursday after U.S. stock
indexes finished with small losses following the Federal Reserve's interest
rate hike. Beijing said it was prepared to defend its interests as the
administration of President Donald Trump prepared to announce tariffs on
imports from China.
KEEPING SCORE: Britain's FTSE 100 dropped 0.6 percent to 6,999.86 and
Germany's DAX lost 0.9 percent to 12,193.57. The CAC 40 in France shed 0.7
percent to 5,204.02. Futures for the S&P 500 lost 0.7 percent and Dow futures
gave up 0.6 percent, pointing to a downbeat start in Wall Street.
THE DAY IN ASIA: Japan's Nikkei 225 index gained 1.0 percent to 21,591.99
while the Kospi in South Korea added 0.4 percent to 2,496.02. Hong Kong's Hang
Seng dropped 1.1 percent to 31,071.05 and the Shanghai Composite index lost 0.5
percent to 3,263.48. Australia's S&P ASX 200 fell 0.2 percent to 5,937.20.
Shares were mixed in Southeast Asia.
FED RATE HIKE: The Fed, headed by its new chairman, Jerome Powell, said the
U.S. economy and the job market continued to improve over the last two months
and it still expects to raise interest rates three times this year. It said it
might raise rates three more times next year instead of two.
CHINA TRADE: China's Commerce Ministry said it would take "all necessary
measures" to defend China's interests if President Donald Trump targets China
for allegedly stealing American technology or pressuring U.S. companies to hand
it over. The Trump administration was expected to impose trade sanctions on
China, perhaps including restrictions on Chinese investment and tariffs on as
much as $60 billion worth of Chinese products. A Foreign Ministry spokeswoman
Hua Chunying told reporters Thursday that Beijing hoped the U.S. would "refrain
from taking actions that are detrimental to both sides."
ENERGY: Benchmark U.S. crude shed 37 cents to $64.80 per barrel in
electronic trading on the New York Mercantile Exchange. It gained $1.63, or 2.6
percent, to $65.17 a barrel on Wednesday. Brent crude, used to price
international oils, shed 50 cents to $68.57 per barrel.
CURRENCIES: The dollar fell to 105.67 yen from 106.05 yen. The euro fell to
$1.2325 from $1.2340.