Afp Business Asia

Stock markets fluctuated on Wednesday, with many investors sticking to the sidelines while looking for clues on US interest rate moves.Trading volumes were light overall, with another pullback in US tech heavyweights spurring caution after their stellar run since April.Tuesday’s tech sell-off, which extended into Wednesday, was “sparked by concerns about overexcitement and overvaluations in AI stocks,” said Victoria Scholar, head of investment at Interactive Investor.Wall Street closed mostly lower, with the tech-heavy Nasdaq falling again as shares in AI chip-maker Nvidia ticked down.Its rival Advanced Micro Devices and software provider Palantir also pulled back on Wednesday.Paris and Frankfurt fell, with European defense stocks adding to losses on signs that a path may be clearing for Ukraine peace talks.London’s FTSE 100 index rose but the pound fell back from earlier highs after UK inflation rose more than expected in July, dampening hopes that the Bank of England will cut rates again this year.Minutes of the US Federal Reserve’s recent policy meeting in July showed that a majority of officials judged that inflation risks outweighed those of employment for now — as policymakers voted to keep interest rates unchanged despite two dissents.All eyes are now on Fed Chair Jerome Powell, who has resisted US President Donald Trump’s vociferous calls for rate cuts and is set to deliver remarks Friday at the annual central bankers conference in Jackson Hole, Wyoming.Data last week provided a mixed picture of US inflation, making it uncertain if the Fed will lower rates as many investors expect in September — which could bolster growth in the world’s largest economy.Traders have also been watching the recent diplomatic whirlwind aimed at resolving the war in Ukraine, after Trump’s high-stakes meeting with Russian counterpart Vladimir Putin in Alaska. It has been more than three years since Moscow’s invasion.Investors are monitoring the possibility of face-to-face talks between Putin and Ukrainian President Volodymyr Zelensky, who has said he is ready for such a meeting.Oil prices rose, recovering part of the losses from the previous day, as investors monitored progress on Ukraine peace talks.In Asia, Tokyo closed down 1.5 percent after official data showed Japanese exports suffered their steepest drop in more than four years last month as US tariffs weighed.Hong Kong advanced while Shanghai closed up one percent.Hong Kong’s stock exchange operator posted record half-year revenue, riding a renewed surge in listings and trading activity at the Chinese finance hub.In company news, shares in mining giant Anglo American fell 0.9 percent in London after US group Peabody Energy walked away from a $3.8 billion deal to buy its steelmaking coal business. – Key figures at around 2025 GMT -New York – Dow: FLAT at 44,938.31 points (close)New York – S&P 500: DOWN 0.2 percent at 6,395.78 (close)New York – Nasdaq: DOWN 0.7 percent at 21,172.85 (close)London – FTSE 100: UP 1.1 percent at 9,288.14 (close)Paris – CAC 40: DOWN 0.1 percent at 7,973.03 (close)Frankfurt – DAX: DOWN 0.6 percent at 24,276.97 (close)Tokyo – Nikkei 225: DOWN 1.5 percent at 42,888.55 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 25,165.94 (close)Shanghai – Composite: UP 1.0 percent at 3,766.21 (close)Euro/dollar: UP at $1.1648 from $1.1646 on TuesdayPound/dollar: DOWN at $1.3452 from $1.3489Dollar/yen: DOWN at 147.44 yen from 147.64 yenEuro/pound: UP at 86.59 pence from 86.33 penceWest Texas Intermediate: UP 1.4 percent at $63.21 per barrelBrent North Sea Crude: UP 1.6 percent at $66.84 per barrelpfc-ajb-js-bys/aha

Stock markets were mixed Wednesday after a US tech sell-off while investors awaited signals from US policymakers on the outlook for interest rates.Paris was flat and Frankfurt fell in midday deals, with European defence stocks extending losses on hopes for progress in Ukraine peace talks.London’s FTSE 100 index and the pound edged up after UK inflation rose more than expected in July, dampening bets that the Bank of England will cut rates again this year. A “US tech sell-off drags European markets into the red,” noted Victoria Scholar, head of investment at Interactive Investor. Several major technology firms, including Nvidia, Palantir and Oracle, lost market share on Wall Street Tuesday on fears that their recent rally may have run too far.The sell-off was “sparked by concerns about overexcitement and overvaluations in AI stocks,” Scholar added.In company news, shares in mining giant Anglo American fell around two percent in London after US group Peabody Energy walked away from a $3.8 billion deal to buy its steelmaking coal business. Investors eagerly awaited a speech on Friday by US Federal Reserve Chair Jerome Powell at the annual retreat of global central bankers in Jackson Hole, Wyoming.Powell could provide more clues about a widely expected interest rate cut at the Fed’s next policy meeting in September, after data last week provided a mixed picture of inflation in the United States.Traders have also been watching a recent diplomatic whirlwind aimed at resolving the war in Ukraine, after President Donald Trump’s high-stakes meeting with Russian counterpart Vladimir Putin in Alaska.Eyes are now on potential face-to-face talks between Putin and Ukrainian President Volodymyr Zelensky, who has said he is ready for such a meeting.Oil prices rose, recovering part of the losses from the previous day, as investors monitored progress on Ukraine peace talks.In Asia, Tokyo closed down 1.5 percent after official data showed Japanese exports suffered their steepest drop in more than four years last month as US tariffs weighed.Hong Kong advanced and Shanghai closed up one percent.Hong Kong’s stock exchange operator posted record half-year revenue, riding a renewed surge in  listings and trading activity at the Chinese finance hub.- Key figures at around 1040 GMT -London – FTSE 100: UP 0.2 percent at 9,211.48 pointsParis – CAC 40: FLAT at 7,980.48Frankfurt – DAX: DOWN 0.3 percent at 24,348.48Tokyo – Nikkei 225: DOWN 1.5 percent at 42,888.55 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 25,165.94 (close)Shanghai – Composite: UP 1.0 percent at 3,766.21 (close)New York – Dow: FLAT at 44,922.27 (close)Euro/dollar: UP at $1.1654 from $1.1646 on TuesdayPound/dollar: UP at $1.3499 from $1.3489Dollar/yen: DOWN at 147.43 yen from 147.64 yenEuro/pound: DOWN at 86.30 pence from 86.33 penceWest Texas Intermediate: UP 1.0 percent at $63.00 per barrelBrent North Sea Crude: UP 1.1 percent at $66.49 per barrel

Markets were mixed Wednesday in the face of worrying signs for Japanese exports, as investors await signals from US policymakers of an interest rate cut in the world’s largest economy.Traders have also been watching a recent diplomatic whirlwind to resolve the protracted war in Ukraine, after President Donald Trump’s high-stakes meeting with Russian counterpart Vladimir Putin in Alaska.Eyes are now on potential face-to-face talks between Putin and Ukrainian President Volodymyr Zelensky, who has said he is ready for such a meeting.Tokyo dropped sharply on Wednesday, closing the day down 1.5 percent. South Korea and Taipei also finished down.Hong Kong recovered from a morning dip to advance slightly during afternoon trading, closing up 0.2 percent.Shanghai, Sydney, Jakarta and Bangkok also rose. Manila was flat.Hong Kong’s stock exchange operator posted record half-year revenue on Wednesday, riding a renewed surge in public listings and trading activity at the Chinese finance hub.Tuesday on Wall Street saw several major technology firms lose significant market share, including Nvidia, Palantir and Oracle.The selloffs came amid increasing unease over a sustained rally in tech stocks this year despite a range of uncertainties facing the global economy.Among the challenges are biting tariffs unleashed by Trump on major US trading partners this year.Official data showed Wednesday that Japanese exports suffered their steepest drop in more than four years last month.Hours later, statistics authorities in Britain revealed that inflation in the country reached its highest level in July since the start of last year, a sign of further pressure on the UK economy.The higher-than-expected reading “came largely as a result of yet another chunky rise in food prices, but also by virtue of an upward impulse from consumer energy costs”, wrote Michael Brown, senior research strategist at Pepperstone.London and Paris were down in morning trade, while Frankfurt saw a modest gain.Investors are eagerly awaiting a speech on Friday by US Federal Reserve Chair Jerome Powell at the annual retreat of global central bankers in Jackson Hole, Wyoming.Traders hope Powell will provide more clues about a widely expected interest rate cut at the Fed’s next policy meeting in September, after data last week provided a mixed picture about inflation in the United States.”Powell’s Wyoming speech is being framed as a high-wire act,” wrote Stephen Innes of SPI Asset Management in a note.”Too dovish, and he risks stoking long-end inflation fears; too stern, and he risks yanking the oxygen mask off equities already trading in rarified air.”- Key figures at around 0830 GMT -Tokyo – Nikkei 225: DOWN 1.5 percent at 42,888.55 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 25,165.94 (close)Shanghai – Composite: UP 1.0 percent at 3,766.21 (close)London – FTSE 100: DOWN 0.2 percent at 9,169.14Euro/dollar: DOWN at $1.1638 from $1.1646 on TuesdayPound/dollar: UP at $1.3499 from $1.3489Dollar/yen: DOWN at 147.55 yen from 147.64 yenEuro/pound: DOWN at 86.21 pence from 86.33 penceWest Texas Intermediate: UP 1.0 percent at $63.00 per barrelBrent North Sea Crude: UP 0.9 percent at $66.36 per barrelNew York – Dow: FLAT at 44,922.27 (close)

Asian markets mostly fell Wednesday morning, mirroring a rout of US tech titans the previous day as investors await signals of an interest rate cut in the world’s largest economy.The dips also came after top US and European military leaders met in Washington on Tuesday to discuss the mechanics of a possible Ukraine peace deal.Recent days have seen a whirlwind of diplomatic efforts to resolve the protracted war after President Donald Trump’s high-stakes meeting with Russian counterpart Vladimir Putin in Alaska.Eyes are now on potential face-to-face talks between Putin and Ukrainian President Volodymyr Zelensky, who has said he is ready for such a meeting.The negotiations have sparked volatility in oil markets, which fell back Tuesday from gains made on Monday.Tokyo’s Nikkei dropped sharply during Wednesday morning trading, while shares in Hong Kong, South Korea, Taipei and Bangkok also fell. Shanghai, Sydney and Manila rose.The previous day on Wall Street saw several major technology firms lose significant market share, including Nvidia, Palantir and Oracle.The selloffs come amid increasing unease over a prolonged rally in tech stocks this year despite a range of uncertainties facing the global economy.Among the challenges are biting tariffs unleashed by Trump on major US trading partners this year.Official data showed Wednesday morning that Japanese exports suffered their steepest drop in more than four years last month.Meanwhile, investors are eagerly awaiting a speech on Friday by US Federal Reserve Chair Jerome Powell at the annual retreat of global central bankers in Jackson Hole, Wyoming.Traders also hope Powell will provide more clues about a widely expected interest rate cut at the Fed’s next policy meeting in September, after data last week provided a mixed picture about inflation in the United States.”Powell’s Wyoming speech is being framed as a high-wire act,” wrote Stephen Innes of SPI Asset Management in a note.”Too dovish, and he risks stoking long-end inflation fears; too stern, and he risks yanking the oxygen mask off equities already trading in rarified air.”- Key figures at around 0215 GMT -Tokyo – Nikkei 225: DOWN 1.6 percent at 42835.84Hong Kong – Hang Seng Index: DOWN 0.3 percent at 25045.13Shanghai – Composite: UP 0.1 percent at 3,731.51Euro/dollar: DOWN at $1.1625 from $1.1646 on TuesdayPound/dollar: DOWN at $1.3465 from $1.3489Dollar/yen: DOWN at 147.60 yen from 147.64 yenEuro/pound: UP at 86.34 pence from 86.33 penceWest Texas Intermediate: UP 0.6 percent at $62.72 per barrelBrent North Sea Crude: UP 0.1 percent at $65.86 per barrelNew York – Dow: FLAT at 44,922.27 (close)London – FTSE 100: UP 0.3 percent at 9,189.22 (close)

European stock markets rose while Wall Street mostly retreated Tuesday as investors warily eyed signs of progress in talks to end Russia’s war in Ukraine.Markets were also waiting for a key speech by the US Federal Reserve chief this week for clues on interest rate cuts that could bolster the world’s biggest economy.Hopes for a Ukraine breakthrough rose after US President Donald Trump said he spoke by phone with Russian counterpart Vladimir Putin, following a meeting with Ukrainian President Volodymyr Zelensky and European leaders at the White House.Zelensky said he was ready for what would be his first face-to-face talks with Putin since Russia’s invasion nearly three and a half years ago.Wall Street mostly pulled back, with the Nasdaq tumbling 1.5 percent and S&P 500 losing 0.6 percent. The Dow closed flat.London, Paris and Frankfurt stocks all closed higher following a lackluster session for Asian stock markets.Defense stocks fell sharply as chances grew for a breakthrough in Ukraine peace talks, with Germany’s Rheinmetall dropping 4.7 percent and France’s Thales down 4.1 percent.Investors were also eagerly awaiting a speech on Friday by Fed Chair Jerome Powell at the annual retreat of global central bankers in Jackson Hole, Wyoming.Traders hope Powell will provide more clues about a widely expected interest rate cut at the Fed’s next policy meeting in September, after data last week provided a mixed picture about inflation.”Markets seem to be exercising some caution ahead of the Jackson Hole meeting later this week and as talks over a peace agreement between Russia and Ukraine remain inconclusive,” said AJ Bell’s head of financial analysis Danni Hewson.Oil prices, which have been volatile for several days — Russia is a major crude producer — retreated after gains on Monday.”Oil prices have dropped a little as a deal edges closer, given that it’s likely to lead to an easing of sanctions on Russia energy imports, increasing supplies on global markets,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.Japan’s Nikkei briefly hit a record before retreating to close down 0.4 percent.Shanghai ended flat while Hong Kong, Sydney and Seoul fell, and Singapore, Bangkok and Mumbai edged up.Among individual companies, Intel shares advanced around 7.0 percent in New York after Japan-based tech investment giant SoftBank said it would invest $2 billion in the troubled US chip giant.White House Press Secretary Karoline Leavitt confirmed Tuesday that the US Commerce Department was “ironing out the details” on a deal with the company, as the government seeks a stake in Intel in exchange for grants.- Key figures at around 2155 GMT -New York – Dow: FLAT at 44,922.27 points (close)New York – S&P 500: DOWN 0.6 percent at 6,411.37 (close)New York – Nasdaq: DOWN 1.5 percent at 21,314.95 (close)London – FTSE 100: UP 0.3 percent at 9,189.22 (close)Paris – CAC 40: UP 1.2 percent at 7,979.08 (close)Frankfurt – DAX: UP 0.5 percent at 24,423.07 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 43,546.29 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 25,122.90 (close)Shanghai – Composite: FLAT at 3,727.29 (close)Euro/dollar: DOWN at $1.1646 from $1.1666 on MondayPound/dollar: DOWN at $1.3489 from $1.3503Dollar/yen: DOWN at 147.64 yen from 147.89 yen  Euro/pound: DOWN at 86.33 pence from 86.40 penceWest Texas Intermediate: DOWN 1.7 percent at $62.35 per barrelBrent North Sea Crude: DOWN 1.2 percent at $65.79 per barrel

Global stock markets traded cautiously and oil prices fell on Tuesday as investors eyed signs of progress in talks to end Russia’s war in Ukraine.Hopes for a breakthrough rose after US President Donald Trump said he spoke by phone with Russian counterpart Vladimir Putin after hosting Ukrainian President Volodymyr Zelensky and European leaders at the White House.Zelensky said he was ready for what would be his first face-to-face talks with Putin since Russia’s invasion nearly three and a half years ago.London, Paris and Frankfurt stocks all advanced, following a lacklustre session for Asian stock markets.European defence stocks, however, fell on optimism for a breakthrough in peace talks.Investors were also eagerly awaiting a speech later this week by US Federal Reserve chief Jerome Powell at the annual retreat of global central bankers in Jackson Hole, Wyoming.Traders hope Powell will provide more clues about a possible Fed interest-rate cut when it meets next month, after data last week provided a mixed picture about inflation.”Markets seem to be exercising some caution ahead of the Jackson Hole meeting later this week and as talks over a peace agreement between Russia and Ukraine remain inconclusive,” said AJ Bell head of financial analysis Danni Hewson.Oil prices, which have been volatile for several days — Russia is a major crude producer — fell around one percent after gains on Monday.”Oil prices have dropped a little as a deal edges closer, given that it’s likely to lead to an easing of sanctions on Russia energy imports, increasing supplies on global markets,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.Japan’s Nikkei briefly hit a fresh intraday record before retreating to close down 0.4 percent.Shanghai ended flat, while Hong Kong, Sydney and Seoul retreated and Singapore, Bangkok and Mumbai edged up.SoftBank shares fell four percent after the Japan-based tech investment giant said it would invest $2 billion in Intel, as the US government reportedly considers taking a 10-percent stake in the troubled US chip giant.- Key figures at around 1040 GMT -London – FTSE 100: UP 0.2 percent at 9,178.27 pointsParis – CAC 40: UP 0.7 percent at 7,940.33Frankfurt – DAX: UP 0.2 percent at 24,368.64Tokyo – Nikkei 225: DOWN 0.4 percent at 43,546.29 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 25,122.90 (close)Shanghai – Composite: FLAT at 3,727.29 (close)New York – Dow: UP 0.1 percent at 44,946.12 (close)Euro/dollar: UP at $1.1688 from $1.1666 on MondayPound/dollar: UP at $1.3525 from $1.3503Dollar/yen: DOWN at 147.68 yen from 147.89 yen  Euro/pound: UP at 86.41 pence from 86.40 penceWest Texas Intermediate: DOWN 1.3 percent at $62.62 per barrelBrent North Sea Crude: DOWN 1.1 percent at $65.84 per barrel

Stock markets traded in a narrow range Tuesday and oil prices dipped after US President Donald Trump held what he called “very good” talks with Ukrainian and European leaders on ending the war.Hopes for a breakthrough rose after Trump said he spoke by phone with Russian counterpart Vladimir Putin after hosting Ukrainian President Volodymyr Zelensky, German Chancellor Friedrich Merz and others at the White House.”At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelensky,” Trump said.Zelensky said he was ready for what would be his first face-to-face talks with Putin since Russia’s invasion nearly three and a half years ago.Oil prices, which have been volatile for several days — Russia is a major crude producer — fell back after gains on Monday.In Asia and Europe equity investors largely stayed on the sidelines after Wall Street treaded water on Monday.Japan’s Nikkei briefly hit a fresh intraday record before retreating to close down 0.4 percent.Shanghai ended flat, while Hong Kong, Sydney and Seoul retreated and Singapore, Bangkok and Mumbai edged up.In Europe, London and Paris inched up, while Frankfurt was modestly lower.SoftBank shares fell four percent after the Japan-based tech investment giant said it would invest $2 billion in Intel, as the US government reportedly considers taking a 10-percent stake in the troubled US chip giant.Fresh impetus for investors could come from a speech this week by US Federal Reserve chief Jerome Powell at the annual retreat of global central bankers in Jackson Hole.Markets hope Powell will provide more clues about Fed plans for interest rates when it meets next month, after data last week provided a mixed picture about inflation.”Even a nod to easing (by Powell) could be enough to trigger profit-taking, and a hint of caution could set off a scramble for the exits,” Stephen Innes at SPI Asset Management said.- Key figures at around 0830 GMT -Tokyo – Nikkei 225: DOWN 0.4 percent at 43,546.29 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 25,122.90 (close)Shanghai – Composite: FLAT at 3,727.29 (close)New York – Dow: UP 0.1 percent at 44,946.12 (close)London – FTSE 100: UP 0.1 percent at 9,166.54Euro/dollar: UP at $1.1678 from $1.1666 on MondayPound/dollar: UP at $1.3521 from $1.3503Dollar/yen: DOWN at 147.65 yen from 147.89 yen  Euro/pound: DOWN at 86.37 pence from 86.40 penceWest Texas Intermediate: DOWN 0.6 percent at $63.02 per barrelBrent North Sea Crude: DOWN 0.7 percent at $66.12 per barrel

Asian markets were little changed Tuesday after Wall Street treaded water and US President Donald Trump held what he called “very good” talks with Ukrainian and European leaders on ending the three-year war.Hopes for a breakthrough rose after Trump said he spoke by phone with Russian counterpart Vladimir Putin — whom he met in Alaska last week — after hosting the Europeans and Ukrainian President Volodymyr Zelensky at the White House.”At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelensky,” Trump said.Oil prices, which have been volatile for several days — Russia is a major crude producer — fell back after gains on Monday.Tokyo, Sydney and Seoul were down slightly, while Hong Kong, Shanghai and Singapore were in the green.SoftBank shares fell two percent after it said it would invest $2 billion in Intel, as the US government reportedly considers taking a 10-percent stake in the troubled US chip giant.Fresh impetus for investors could come from a speech this week by US Federal Reserve chief Jerome Powell at the annual retreat of global central bankers in Jackson Hole.Markets hope Powell will provide more clues about Fed plans for interest rates when it meets next month, after data last week provided a mixed picture about inflation.”Even a nod to easing (by Powell) could be enough to trigger profit-taking, and a hint of caution could set off a scramble for the exits,” Stephen Innes at SPI Asset Management said.- Key figures at around 0300 GMT -Tokyo – Nikkei 225: DOWN 0.1 percent at 43,652.32Hong Kong – Hang Seng Index: UP 0.1 percent at 25,195.36Shanghai – Composite: UP 0.2 percent at 3,733.74New York – Dow: UP 0.1 percent at 44,946.12 (close)London – FTSE 100: UP 0.2 percent at 9,157.74 (close)Euro/dollar: DOWN at $1.1652 from $1.1666 on MondayPound/dollar: DOWN at $1.3498 from $1.3503 Dollar/yen: DOWN at 147.78 yen from 147.89 yen  Euro/pound: DOWN at 86.33 pence from 86.40 pence West Texas Intermediate: DOWN 0.5 percent at $63.12 per barrelBrent North Sea Crude: DOWN 0.3 percent at $66.32 per barrel

Australian mining giant BHP on Tuesday reported a bump in yearly profits, as China’s appetite for copper helped to counter slumping prices for iron ore and coal. Chief executive Mike Henry trumpeted a strong year “marked by record production”, with annual net profits rising 14 percent to US$9 billion. But annual results also laid bare the challenging market conditions facing the world’s largest mining company. Revenues dropped 8 percent to US$51 billion, while underlying profits — which can paint a more accurate picture of performance — fell 26 percent to US$10.2 billion. The company said falling revenues were “primarily due to the decline in iron ore and coal prices”. This had been partially rescued by China’s higher-than-expected demand for copper, the company said, a critical mineral used in consumer electronics, rechargeable batteries and power lines. “Against a backdrop of global uncertainty this strong performance has led to robust financial outcomes and reflects the resilience of BHP’s business and strategy,” said Henry. “We remain confident in the long-term fundamentals of steelmaking materials, copper and fertilisers, which are critical to global growth, urbanisation and the energy transition.”