World shares mixed after fresh records on Wall St

Encouraging reports on the economy sent Treasury yields climbing in the bond market, meanwhile, including one that said fewer US workers applied for unemployment benefits last week. That could indicate the pace of layoffs is slowing, and it was a relief after the prior week’s data showed a disconcerting leap to a four-year high

Manila: World shares were mixed with most Asian stocks down and European indexes higher after Wall Street rose to more records.

In early European trading, Germany’s DAX rose 0.3 per cent to 23,736.30. The CAC 40 in Paris added nearly 0.9 per cent to 7,922.50 while Britain’s FTSE 100 edged up 0.1 per cent to 9,238.90 as investors assessed a slew of recent monetary policy decisions, including those by the Bank of Japan, the Federal Reserve and the Bank of England. Futures for the S&P 500 slipped less than 0.1 per cent, while that for the Dow Jones Industrial Average was up less than 0.1 per cent.

Japan’s Nikkei 225 switched from gains to losses, closing nearly 0.6 per cent lower to 45,045.81, after the BOJ decided to keep its benchmark short-term interest rate unchanged at 0.5 per cent and announced plans to start selling its exchange-traded fund holdings and real-estate investment trusts. Data released Friday also showed the country’s annual inflation in August slowed to a 10-month low at 2.7 per cent, from 3.1 per cent the previous month.

In Chinese markets, Hong Kong’s Hang Seng index shed less than 0.1 per cent to 26,537.97 while the Shanghai Composite index edged down less than 0.1 per cent to 3,829.34. Investors are awaiting a phone call later Friday between US President Donald Trump and China’s President Xi Jinping on tariffs and finalising a deal to allow TikTok to keep operating in the United States.

Australia’s S&P/ASX 200 climbed 0.3 per cent to 8,773.50 after losses a day earlier, when data indicated the jobs market was showing signs of softness. South Korea’s Kospi fell nearly 0.5 per cent to 3,445.24. India’s BSE Sensex edged down 0.4 per cent, trimming earlier gains. Taiwan’s Taiex dipped 0.7 per cent.

Wall Street rolled to more records Thursday as Nvidia and Intel led a rally for technology stocks on the announcement of their deal that includes a $5 billion investment. The S&P 500 rose 0.5 per cent and is on track for a third straight winning week.

The Dow Jones Industrial Average added 124 points, or 0.3 per cent, and the Nasdaq composite climbed 0.9 per cent. All three set all-time highs. Intel soared 22.8 per cent for its best day since 1987 after Nvidia said it would buy $5 billion of the chipmaker’s stock.

It’s part of a collaboration where the pair will develop products for data centres and personal computers. Nvidia climbed 3.5 per cent and was by far the strongest force lifting the S&P 500 because it’s Wall Street’s most valuable company.

Encouraging reports on the economy sent Treasury yields climbing in the bond market, meanwhile, including one that said fewer US workers applied for unemployment benefits last week than expected.