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Global stocks rallied Thursday, lifting US indices for a second straight day after President Donald Trump dialed back tariff threats on Europe over their opposition to a US takeover of Greenland.Wall Street indices, which jumped more than one percent Wednesday after Trump significantly softened his tone on Greenland, finished solidly higher again Thursday.The broad-based S&P 500 won 0.6 percent.After focusing on Greenland, Iran and other geopolitical hotspots, “it seems like there’s a lot of tailwinds back in the market,” said Tom O’Shea, from Innovator Capital Management. “The economy is in a really good position to move forward.” US data releases Thursday included a modest uptick in US third-quarter growth to 4.4 percent and a stable reading on inflation for November.Next week’s US earnings calendar is packed with results from Apple, Microsoft, Boeing and other corporate giants. There will also be a Federal Reserve monetary policy decision.Markets had been rattled this week by the US president saying he would hammer several nations — including Germany, France, Britain and Denmark — with levies for their pushback against his grab for Greenland, a Danish autonomous territory.But relief came Wednesday when Trump backed down on threats to seize the Arctic island by force from ally Denmark and retracted his tariff threat.”That was enough to trigger the so-called TACO trade — ‘Trump Always Chickens Out’ — and markets responded with one of their strongest rallies in recent months,” said Fawad Razaqzada, market analyst at Forex.com.- Trade wars ‘biggest concern’ -But analysts said there was no guarantee that Europe-US relations had improved durably, a concern that capped gains.”The Greenland situation may have calmed down, but there are still enough unanswered questions,” said AJ Bell investment director Russ Mould. “It’s more about financial markets regaining balance than moving into top gear.”One lesson from this week’s price swings was that “financial markets fear tariffs more than geopolitical risks,” noted Kathleen Brooks, research director at XTB. “Trade wars are the biggest concern for markets.”Advances in Asian equities earlier were led by tech-heavy markets Tokyo, Taipei and Seoul, with the latter topping 5,000 points for the first time as chip companies enjoyed bumper gains.The surge came after Nvidia boss Jensen Huang told the World Economic Forum in Davos that the infrastructure to develop and power generative AI models will require further “trillions” of dollars in investment.He told delegates that the AI boom “has started the largest infrastructure buildout in human history”.The remarks helped boost South Korean chip leaders Samsung and SK hynix, tech investment giant SoftBank in Japan, and European heavyweights ASML and STMicroelectronics.French video game giant Ubisoft lost more than a third of its value in a single session, with its stock closing more than 39 percent lower, after the “Assassin’s Creed” maker announced it expected to make huge losses this year and needed to restructure drastically.- Key figures at around 2110 GMT -New York – Dow: UP 0.6 percent at 49,384.01 (close)New York – S&P 500: UP 0.6 percent at 6,913.35 (close)New York – NASDAQ: UP 0.9 percent at 23,436.02 (close)London – FTSE 100: UP 0.1 percent at 10,150.05 (close)Paris – CAC 40: UP 1.0 percent at 8,148.89 (close)Frankfurt – DAX: UP 1.2 percent at 24,856.47 (close)Tokyo – Nikkei 225: UP 1.7 percent at 53,688.89 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 26,629.96 (close)Shanghai – Composite: UP 0.1 percent at 4,122.58 (close)Euro/dollar: UP at $1.1751 from $1.1685 on WednesdayPound/dollar: UP at $1.3500 from $1.3439Dollar/yen: UP at 158.39 yen from 158.30 yenEuro/pound: UP at 87.05 pence from 87.00 penceBrent North Sea Crude: DOWN 1.8 percent at $64.06 per barrelWest Texas Intermediate: DOWN 2.1 percent at $59.36 per barrelburs/jh/rlp/msp

Stocks rallied Thursday after President Donald Trump dialled back threats to hit key European countries with tariffs over their opposition to a US takeover of Greenland.Gains were fuelled also by a surge in tech stocks as the artificial intelligence trade roared back into the spotlight after the head of top AI chipmaker Nvidia said the sector needed “trillions of dollars” more investment.Markets had been rattled this week by the US president saying he would hammer several nations — including Germany, France, Britain and Denmark — with levies for their pushback against his grab for Greenland, a Danish autonomous territory.But relief came Wednesday when Trump backed down on threats to seize the North Atlantic island by force from ally Denmark and retracted his tariff threat.”That was enough to trigger the so-called TACO trade — ‘Trump Always Chickens Out’ — and markets responded with one of their strongest rallies in recent months,” said Fawad Razaqzada, market analyst at Forex.com.- Trade wars ‘biggest concern’ -But analysts said there was no guarantee that Europe-US relations had improved durably, a concern that capped gains.”The Greenland situation may have calmed down, but there are still enough unanswered questions,” said AJ Bell investment director Russ Mould.  “It’s more about financial markets regaining balance than moving into top gear.”One lesson from this week’s price swings was that “financial markets fear tariffs more than geopolitical risks”, noted Kathleen Brooks, research director at XTB. “Trade wars are the biggest concern for markets.”Advances in Asian equities earlier were led by tech-heavy markets Tokyo, Taipei and Seoul, with the latter topping 5,000 points for the first time as chip companies enjoyed bumper gains.The surge came after Nvidia boss Jensen Huang told the World Economic Forum in Davos that the infrastructure to develop and power generative AI models will require further “trillions” of dollars in investment.He told delegates that the AI boom “has started the largest infrastructure buildout in human history”.The remarks helped boost South Korean chip leaders Samsung and SK hynix, tech investment giant SoftBank in Japan, and European heavyweights ASML and STMicroelectronics.French video game giant Ubisoft lost more than a third of its value in a single session, with its stock closing more than 39 percent lower, after the “Assassin’s Creed” maker announced it expected to make huge losses this year and needed to restructure drastically.- Key figures at around 1640 GMT -New York – Dow: UP 0.9 percent at 49,517.60New York – S&P 500: UP 0.7 percent at 6,924.82New York – NASDAQ: UP 1.0 percent at 23,465.06London – FTSE 100: UP 0.1 percent at 10,150.05 (close)Paris – CAC 40: UP 1.0 percent at 8,148.89 (close)Frankfurt – DAX: UP 1.2 percent at 24,856.47 (close)Tokyo – Nikkei 225: UP 1.7 percent at 53,688.89 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 26,629.96 (close)Shanghai – Composite: UP 0.1 percent at 4,122.58 (close)Euro/dollar: UP at $1.1748 from $1.1683 on WednesdayPound/dollar: UP at $1.3496 from $1.3418Dollar/yen: DOWN at 158.28 yen from 158.43 yenEuro/pound: DOWN at 87.05 pence from 87.08 penceBrent North Sea Crude: DOWN 1.3 percent at $64.42 per barrelWest Texas Intermediate: DOWN 1.3 percent at $59.82 per barrelburs/jh/rlp

Stocks rose on Thursday while safe-haven precious metals extended losses after Donald Trump rowed back on his threat to hit key European countries with tariffs over their opposition to a US takeover of Greenland.The gains were also fuelled by a surge in regional tech giants as the artificial intelligence trade roared back into the spotlight after the head of Nvidia said the sector needed “trillions of dollars” more investment.Markets have been whipped by volatility this week after the US president said at the weekend he would hammer several nations — including Germany, France, Britain and Denmark — with levies for their pushback against his grab for the North Atlantic island.The threat sparked a warning of retaliation, with French President Emmanuel Macron raising the possibility of deploying an unused, powerful instrument aimed at deterring economic coercion, fanning fears of a trade war between the economic giants.But traders breathed a sigh of relief on Wednesday when the US president told the World Economic Forum (WEF) in Davos that he would not take the Danish autonomous territory by force — as he had hinted — and later said he had retracted his tariff threat.”We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region,” he wrote in a post on Truth Social, without providing details.”Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st,” he said.The news fuelled a rally of more than one percent in US stocks, which had tanked on Tuesday on their return from a long weekend.Asia followed suit, with Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Mumbai, Taipei and Manila all up. Paris and Frankfurt jumped more than one percent at the open, while London was also sharply higher.Gold and silver, which have hit multiple records this week on a push into safe havens by worried traders, both fell on Wednesday and extended their retreat in Asia.Pepperstone’s Michael Brown wrote that “the threat of 10 percent tariffs on various European nations has been unwound (and) the tail risk of a tit-for-tat tariff war has been eliminated”.”Participants can move on, and finally the hysteria and hyperbole that was doing the rounds over this matter can be put to bed,” he added.Observers said there had been a pick-up in optimism among investors about the “Trump put” in which big losses in stocks would force the president to change course. The advances in Asia were led by tech-heavy markets Tokyo, Taipei and Seoul, with the latter topping 5,000 points for the first time as chip companies enjoyed bumper gains.The surge came after Nvidia boss Jensen Huang told the WEF that the infrastructure to develop and power generative artificial intelligence models will require much more cash.He told delegates that today’s AI boom “has started the largest infrastructure buildout in human history”.”We’re now a few hundred billion dollars into it… there are trillions of dollars of infrastructure that needs to be built out” in fields including energy, cloud computing and electronics.South Korean chip leaders Samsung and SK hynix gained around two percent, while in Japan tech investment giant SoftBank piled on more than 11 percent, with chip firms Advantest five percent higher and Tokyo Electron up more than three percent.Japanese precision tools maker Disco Corporation is trading up 17 percent in Tokyo after stronger-than-expected earnings.TSMC was up more than one percent in Taipei.- Key figures at around 0815 GMT -Tokyo – Nikkei 225: UP 1.7 percent at 53,688.89 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 26,629.96 (close)Shanghai – Composite: UP 0.1 percent at 4,122.58 (close)London – FTSE 100: UP 0.7 percent at 10,208.97 Euro/dollar: UP at $1.1689 from $1.1683 on WednesdayPound/dollar: UP at $1.3434 from $1.3418Dollar/yen: UP at 158.80 yen from 158.43 yenEuro/pound: DOWN at 87.01 pence from 87.08 penceWest Texas Intermediate: DOWN 0.3 percent at $60.43 per barrelBrent North Sea Crude: DOWN 0.4 percent at $64.99New York – Dow: UP 1.2 percent at 49,077.23 (close)

South Korea logged its slowest growth in half a decade in 2025, the country’s central bank said Thursday, while exports rose on the back of a boom in artificial intelligence.Asia’s fourth-largest economy has struggled with sluggish demand, a troubled housing market and the fallout of former president Yoon Suk Yeol’s martial law declaration, which plunged the country into political chaos.Last year’s one percent growth was the slowest since 2020, when the economy shrank following the outbreak of Covid-19.Exports were a bright spot, rising by 4.1 percent, the country’s central bank said, while imports were up 3.8 percent.”The growth of exports continued and the growth of private consumption and government consumption expanded,” it said.A decline in construction investment widened, it added, linked to persistent trouble in the real estate market.”The decline in construction widened and the growth of manufacturing slowed,” the central bank said.The economy also contracted in the October–December period, the central bank added.An official said that the slump was expected due to the “base effect” from strong growth in the third quarter.But the weak construction investment also played a role in dragging down overall growth, he said.The central bank had projected in its November report that the economy would grow 1.8 percent this year, citing “a recovery in domestic demand and a robust semiconductor cycle”.South Korea is home to key semiconductor manufacturers — Samsung Electronics and SK hynix — whose products have become crucial to sustaining and further expanding infrastructure for the global artificial intelligence market.On the back of robust demand, the benchmark index Kospi broke 5,000 for the first time on Thursday.”Today’s rally is being driven mainly by semiconductor manufacturers, especially Samsung Electronics and SK hynix, amid growing expectations of robust earnings in the sector,” Chung Hae-chang, analyst at Daishin Securities, told AFP.

Stocks mostly steadied Wednesday as markets digested shifting comments from US President Donald Trump that dialed down tensions with Europe over Greenland.After Tuesday’s equity market weakness following Trump’s tariff threats against Europe over Greenland, US stocks opened the day in positive territory after the Republican leader told a World Economic Forum address that he “won’t use force” to take over Greenland.But Trump still insisted on “immediate negotiations,” slamming “ungrateful” Denmark for refusing to give up the territory.Equities moved solidly higher around 1930 GMT Wednesday, after Trump removed the tariff threat, saying he reached a “framework” for a deal over Greenland following a meeting with NATO chief Mark Rutte.Major US indices finished solidly higher, with the S&P 500 up 1.2 percent.The dollar also advanced against the euro and other currencies.”Time will tell if the framework ultimately amounts to any substantive changes, but from traders’ perspective, the proximate cause for concern (an escalating trade or military conflict between the US and Europe) has passed,” said a note from Matt Weller of Forex.com.Markets have tumbled this week after Trump threatened tariffs up to 25 percent on several European countries — including France, Germany, Britain and Denmark — in response to their opposition to his plans to take Greenland.Trump’s threats had sparked warnings of retaliation at the World Economic Forum meeting in Davos, with European Union chief Ursula von der Leyen saying that the 27-nation bloc would be “unflinching” in its response.The controversy has revived talk of the “Sell America” trade after the yield on US Treasury notes moved higher in an echo of the market’s reaction to a Trump policy announcement on tariffs in April 2025 that the White House later partially walked back.”For a while there, it seemed like we were going to be in for sort of a repeat of last April,” said David Grecsek of Aspiriant. “There’s definitely some concern on the part of the markets that some of these foreign policy can unravel confidence in US assets.”In Europe, London and Paris closed marginally higher, while Frankfurt fell.In Asian trading earlier Wednesday, Tokyo’s stock market fell, while Hong Kong and Shanghai rose. Among individual companies, Netflix fell 1.9 percent despite strong earnings, as it gave only muted guidance for future growth.In company news, shares in British luxury fashion label Burberry jumped five percent in London after it posted a rise in sales as demand from China improved.In Paris, food group Danone slumped more than eight percent after one of its infant milk brands was recalled in Singapore.- Key figures at around 2115 GMT -New York – Dow: UP 1.2 percent at 49,077.23 (close)New York – S&P 500 UP 1.2 percent at 6,875.62 (close)New York – Nasdaq composite UP 1.2 percent at 23,224.82 (close)London – FTSE 100: UP 0.1 percent at 10,138.09 (close)Paris – CAC 40: UP 0.1 percent at 8,069.17 (close)Frankfurt – DAX: DOWN 0.6 percent at 24,560.98 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 52,774.64 (close)Hong Kong – Hang Seng Index: UP 0.4 percent at 26,585.06 (close)Shanghai – Composite: UP 0.1 percent at 4,116.94 (close)Euro/dollar: DOWN at $1.1683 from $1.1725 on TuesdayPound/dollar: DOWN at $1.3418 from $1.3439Dollar/yen: UP at 158.43  yen from 158.15 yenEuro/pound: DOWN at 87.08 pence from 86.07 penceWest Texas Intermediate: UP 0.5 percent at $60.62per barrelBrent North Sea Crude: UP 0.5 percent at $65.24 per barrel

Stocks mostly steadied Wednesday as US President Donald Trump said in a much-anticipated speech at Davos that he would not use force to take control  of Greenland, though he did demand “immediate negotiations” to take control of the Danish arctic territory.Markets have tumbled this week after Trump threatened tariffs up to 25 percent on several European countries — including France, Germany, Britain and Denmark — in response to their opposition to his plans to take Greenland.But “investors found some relief after President Donald Trump’s speech at Davos was less confrontational than anticipated,” said Patrick Munnelly, strategist at Tickmill Group. “Trump assured that no military action would be taken in the Greenland dispute, calming market nerves.”In Europe, London and Paris closed marginally higher, while Frankfurt fell. In late morning trading in New York, the main Wall Street indexes were up less than one percent, though still well below last week’s levels. Trump’s threats have sparked warnings of retaliation at the World Economic Forum meeting in Davos, with European Union chief Ursula von der Leyen saying that the 27-nation bloc would be “unflinching” in its response.In his Davos speech, Trump touted the strength of the US economy and stressed what he said are the security imperatives for having control of Greenland.In Asian trading earlier Wednesday, Tokyo’s stock market fell, while Hong Kong and Shanghai rose. Netflix was down by more than 4 percent in New York despite strong earnings, as it gave only muted guidance for future growth.In company news, shares in British luxury fashion label Burberry jumped five percent in London after it posted a rise in sales as demand from China improved.In Paris, food group Danone slumped more than eight percent after one of its infant milk brands was recalled in Singapore.The dollar steadied after several downward sessions provoked by Trump’s tariff threats. “The fear narrative ran ahead of reality,” said Stephen Innes, managing partner at SPI Asset Management. “The idea of Europe dumping US assets en masse makes for a dramatic storyline, but it collapses under practical constraints. There are not enough deep alternative pools to absorb that kind of flow without severe dislocation.”  – Key figures at around 1645 GMT -New York – Dow: UP 0.8 percent at 48,864.95 pointsNew York – S&P 500 UP 0.6 percent at 6,837.51 New York – Nasdaq composite UP 0.5 percent at 23,064.68 London – FTSE 100: UP 0.1 percent at 10,138.09 (close)Paris – CAC 40: UP 0.1 percent at 8,069.17 (close)Frankfurt – DAX: DOWN 0.6 percent at 24,560.98 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 52,774.64 (close)Hong Kong – Hang Seng Index: UP 0.4 percent at 26,585.06 (close)Shanghai – Composite: UP 0.1 percent at 4,116.94 (close)Euro/dollar: DOWN at $1.1707 from $1.1719 on TuesdayPound/dollar: UP at $1.3441 from $1.3433Dollar/yen: DOWN at 158.13 yen from 158.21 yenEuro/pound: DOWN at 87.16 pence from 87.23 penceWest Texas Intermediate: UP 0.1 percent at $60.46 per barrelBrent North Sea Crude: UP 0.1 percent at $64.95 per barrel

Def Jam, the influential US record label, will launch a division in the “capital of Chinese hip-hop” Chengdu, its parent company Universal Music announced late Tuesday, in a vote of confidence for China’s music scene.The New York-based label worked on the first records of Public Enemy and Beastie Boys, as well as some albums from Jay-Z and Kanye West — all mainstays of American hip-hop.”China is one of the most important and dynamic music markets in the world today, with a new generation of artists shaping culture both locally and globally,” Adam Granite, executive vice president of market development at Universal Music, said in a statement. “Launching Def Jam Recordings China reflects our long-term commitment to this market and our belief that Chinese hip-hop has a powerful role to play in the global evolution of the genre.”Def Jam has also worked with African and European artists through its regional divisions. Chengdu is China’s fourth-largest city and the capital of southwestern Sichuan province, home to the country’s iconic giant pandas.Chengdu is “widely recognized for its vibrant music ecosystem and deep-rooted hip-hop culture,” Universal Music wrote in a press release. Higher Brothers, known for blending Mandarin and the local dialect, is one of the main hip-hop groups originating from the city. Def Jam will work with three acclaimed Chinese rappers — Xie Di, Yitai Wang and Deng Dianguo “DDG” — to help identify and mentor emerging artists. 

European stocks slipped and precious metals hit fresh highs Wednesday as investors awaited US President Donald Trump’s speech at Davos amid his push to seize Greenland.Markets have been stirred this week by Trump threatening up to 25 percent tariffs on several European countries — including France, Germany, Britain and Denmark — in response to their opposition to his Greenland plans.The move has sparked warnings of retaliation at the World Economic Forum meeting in Davos, with European Union chief Ursula von der Leyen saying that the 27-nation bloc would be “unflinching” in its response to Trump’s threats.US Treasury chief Scott Bessent on Wednesday urged Europeans to avoid “reflexive anger” and sit with Trump to hear his arguments.Eyes are now on the US president’s speech to the annual gathering of the world’s economic and political elite later in the day.”If he sticks to his guns about taking Greenland under US control, and if he continues to sideline his closest allies, then risk sentiment could take another dive lower,” said Kathleen Brooks, research director at trading group XTB.Concerns that the Greenland crisis could escalate saw precious metals — a go-to in times of turmoil — pushed to new peaks.Markets have sunk globally this week, and Wall Street’s three main indexes tanked Tuesday as they reopened after a long weekend.However, Wall Street futures pointed to a recovery Wednesday.In Asia, Tokyo’s stock market fell, while Hong Kong and Shanghai rose. Japanese bond yields settled back after surging on the back of a pledge by Prime Minister Sanae Takaichi to cut taxes if she wins a fresh mandate in the February snap election.Her comments saw 40-year yields surge more than a quarter of a percentage point to a record on Tuesday, marking the biggest jump since Trump’s “Liberation Day” tariff bombshell in April.But they fell back Wednesday after Finance Minister Satsuki Katayama called for “everyone in the market to calm down” and highlighted rising tax revenues and the country’s lowest reliance on debt issuance in three decades.In company news, shares in British luxury fashion label Burberry jumped five percent in London after it posted a rise in sales as demand from China improved.- Key figures at around 1100 GMT -London – FTSE 100: DOWN 0.1 percent at 10,113.83 pointsParis – CAC 40: DOWN 0.1 percent at 8,052.17Frankfurt – DAX: DOWN 0.8 percent at 24,513.93Tokyo – Nikkei 225: DOWN 0.4 percent at 52,774.64 (close)Hong Kong – Hang Seng Index: UP 0.4 percent at 26,585.06 (close)Shanghai – Composite: UP 0.1 percent at 4,116.94 (close)New York – Dow: DOWN 1.8 percent at 48,488.59 (close)Euro/dollar: DOWN at $1.1709 from $1.1719 on TuesdayPound/dollar: DOWN at $1.3403 from $1.3433Dollar/yen: DOWN at 158.04 yen from 158.21 yenEuro/pound: UP at 87.36 pence from 87.23 penceWest Texas Intermediate: DOWN 0.5 percent at $60.04 per barrelBrent North Sea Crude: DOWN 0.5 percent at $64.57 per barrel

Equities were mixed Wednesday following a rough start to the week fuelled by Donald Trump’s Greenland-linked tariff threats, while the uncertainty rattling through trading floors saw safe-haven precious metals hit fresh record highs.Japanese bond yields also settled back following Tuesday’s surge on the back of a pledge by Prime Minister Sanae Takaichi to cut taxes.The US president injected a fresh dose of volatility into markets Saturday after threatening to hit several European countries — including France, Germany, Britain and Denmark — with up to 25 percent tariffs over their opposition to his takeover of Greenland.The move has sparked a warning of retaliation, with French President Emmanuel Macron raising the possibility of deploying an unused, powerful instrument aimed at deterring economic coercion.Speaking at the Davos gathering in Switzerland, European Union chief Ursula von der Leyen warned Washington that hitting allied nations with punitive tariffs over Greenland would be a “mistake”.In response, US Treasury chief Scott Bessent said Monday that any retaliatory EU tariffs would be “unwise”.Markets have sunk globally this week, and Wall Street’s three main indexes tanked Tuesday as they reopened after a long weekend.On Wednesday Tokyo, Sydney, Singapore, Taipei, Wellington, Mumbai and Manila fell, while Hong Kong, Shanghai, Seoul, Bangkok and Jakarta rose. Wall Street futures advanced.London was barely moved at the open, while Paris and Frankfurt dipped.However, concerns that the Greenland crisis could grow saw precious metals — a go-to in times of turmoil — continue to hit new peaks.Gold topped out at $4,888.41 an ounce and silver touched $95.89.Eyes are now on Trump’s visit to the World Economic Forum at Davos later in the day.”Traders continue to monitor the prospects for an agreement around Trump’s claim on Greenland, alongside the ongoing pricing of risk that Trump subsequently raises tariffs on European imports… and whether Europe responds with impactful tariffs of its own,” wrote Chris Weston at Pepperstone.”The focus from traders now turns to Trump’s scheduled speech in Davos, but prior to that, the reaction and the ensuing price action through the Asian session.”Bond markets also saw some calm following Tuesday’s rally in Japanese yields to record highs after Takaichi called a snap election for February 8 and said she would suspend an eight-percent sales tax on food and beverages for two years if she wins a fresh mandate.Her comments saw 40-year yields surge more than a quarter of a percentage point to a record on Tuesday, marking the biggest jump since Trump’s “Liberation Day” tariff bombshell in April.The moves saw Bessent call Japanese Finance Minister Satsuki Katayama following a lift in Treasury yields.But they fell back Wednesday after Katayama called for “everyone in the market to calm down” and highlighted rising tax revenues and the country’s lowest reliance on debt issuance in three decades.However, Katsutoshi Inadome at Sumitomo Mitsui Trust Asset Management warned: “Katayama’s comments will have some impact on the market, but these are not the type of moves that can be stopped with just verbal intervention.”Bonds will likely be bought today, but the upside momentum is likely to gradually fade.”- Key figures at around 0815 GMT -Tokyo – Nikkei 225: DOWN 0.4 percent at 52,774.64 (close)Hong Kong – Hang Seng Index: UP 0.4 percent at 26,585.06 (close)Shanghai – Composite: UP 0.1 percent at 4,116.94 (close)London – FTSE 100: FLAT at 10,123.28Euro/dollar: DOWN at $1.1717 from $1.1719 on TuesdayPound/dollar: UP at $1.3442 from $1.3433Dollar/yen: DOWN at 157.92 yen from 158.21 yenEuro/pound: DOWN at 87.16 pence from 87.23 penceWest Texas Intermediate: DOWN 1.4 percent at $59.55 per barrelBrent North Sea Crude: DOWN 1.5 percent at $63.98 per barrelNew York – Dow: DOWN 1.8 percent at 48,488.59 (close)