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World stocks mixed after Wall Street hits new records

written by Bella Palmer

The future for the DJIA was 0.1% lower while that for the S&P 500 gained 0.1%. U.S. markets are shut on Wednesday in observance of Juneteenth

World stocks were mixed on Wednesday after U.S. benchmarks rose to more records following the latest signs that the U.S. economy may be slowing without falling into recession.

The future for the DJIA was 0.1% lower while that for the S&P 500 gained 0.1%. U.S. markets are shut on Wednesday in observance of Juneteenth.

European equity markets opened lower. In London, the FTSE 100 shed 0.2% to 8,177.86 after data showed that British inflation declined to the central bank's 2% target for the first time in around three years. The data also backed the market’s expectation that the BoE would hold the rate at 5.25% in the coming meeting on Thursday.

Germany’s DAX slid 0.1% to 18,109.65, while the CAC 40 in Paris lost 0.2% to 7,615.76.

Tokyo’s Nikkei 225 index jumped 0.2% to 38,570.76 as Japan’s trade data for May showed exports added 13.5% while imports were 9.5% higher from a year earlier, pushed higher by rising prices and the weaker value of the yen against the U.S. dollar.

Minutes from the BoJ's latest policy meeting showed a debate among its decision makers over whether the yen's weakness may push inflation still higher. Governor Kazuo Ueda has hinted at raising the benchmark interest rate in coming months, depending on economic data at the time.

Moves in the Nikkei have reflected much indecision in place, with the index trading in a broad consolidation phase thus far, IG Asia said in a commentary.

The Hang Seng in Hong Kong gained 2.9% to 18,430.39, while the Shanghai Composite index shed 0.4% to 3,018.05 after the head of China’s securities watchdog said at a financial forum in Shanghai that the agency would be enhancing oversight of all financial activities to prevent potential risks.

In Sydney, the S&P/ASX 200 dropped 0.1% to 7,769.70. South Korea’s Kospi climbed 1.2% to 2,797.33.

Taiwan’s Taiex added 2%, while Bangkok’s SET dropped 1%.


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