World shares mostly higher ahead of key data

World shares were mostly higher on Tuesday in holiday-thinned trading ahead of the release of data on how the US economy fared in the third quarter. The futures for the S&P 500 and the Dow Jones Industrial Average were up less than 0.1 per cent.

Germany’s DAX edged 0.1 per cent higher to 24,318.93, while the CAC 40 in Paris slipped 0.2 per cent to 8,105.88. Britain’s FTSE 100 was up 0.1 per cent at 9,873.63. Again touching new records, the price of gold rose 1 per cent early Tuesday to $4,512.00 an ounce, adding to its consistent gains throughout the year, while silver rose 1.4 per cent to $69.52 an ounce.

In Asian trading, Tokyo’s Nikkei 225 was flat at 50,412,87 and the dollar fell against the Japanese yen after officials in Tokyo warned they would intervene if the yen weakened further. The dollar was trading at 155.95 yen, down from 157.04 yen late Monday.

Instead of gaining after the Bank of Japan raised its key policy rate on Friday, the yen had weakened, drawing the usual objections from the Finance Ministry to larger-than-usual currency fluctuations. “The hint of currency intervention proved to be such a serious threat that the yen, which had been significantly oversold after the Bank of Japan meeting, rose from the ashes,” Alex Kruptsikevich of FXPro said in a commentary.

The euro climbed to $1.1797 from $1.1762. Hong Kong’s Hang Seng gave up early gains to fall 0.1 per cent to 25,774.14. The Shanghai Composite index edged 0.1 per cent higher, to 3,919.98. South Korea’s Kospi added 0.3 per cent to 4,117.32, while the S&P/ASX 200 in Australia jumped 1.1 per cent to 8,795.70.

In Taiwan, the Taiex advanced 0.6 per cent, while India’s Sensex was nearly unchanged. Markets in the US will close early on Wednesday for Christmas Eve and remain closed on Thursday for Christmas.