Global Stocks Mixed After Fed Says It Will Rein In Inflation
Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool US inflation. London, Tokyo, Frankfurt, and Hong Kong markets advanced, while Shanghai declined, Joe McDonald reported for the Associated Press (AP) on Nov. 25, 2021.
Photo Insert: The Frankfurt Stock Exchange
In early trading, the FTSE in London rose less than 0.1% to 7,289.90 and the DAX in Frankfurt gained 0.3% to 15,927.78. The CAC 40 in Paris added 0.3% to 7,063.84. Futures for the S&P 500 and the Dow Jones Industrial Average were up 0.3%.
In Asia, the Shanghai Composite Index lost 0.2% to 3,584.18 while the Nikkei 225 in Tokyo gained 0.7% to 29,499.28. The Hang Seng in Hong Kong advanced 0.2% to 24,740.16.
The Kospi in Seoul lost 0.5% to 2,980.27 after the Korean central bank raised its policy interest rate by 0.25 percentage points to 1% in line with expectations.
Sydney’s S&P-ASX 200 added 0.1% to 7,407.30 and India’s Sensex gained 0.8% to 58,811.46. New Zealand and Jakarta advanced while Singapore and Bangkok declined.
On Wall Street, the S&P 500 advanced 0.2%. Gains in technology, real estate, and energy stocks outweighed a slide in banks and materials companies. The Dow slipped less than 0.1% while the Nasdaq composite gained 0.4%.