.HOMECONTACT | NEWS

Oct 18, 11:40 PM EDT

Asian markets mixed after record Wall Street highs; China growth ticks down


AP Photo
AP Photo/Seth Wenig

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

SEOUL, South Korea (AP) -- Asian markets were mixed on Thursday after Wall Street closed at record highs. Data showed that China's quarterly growth slowed slightly but was in line with expectations.

KEEPING SCORE: Japan's Nikkei 225 gained 0.5 percent to 21,474.80, while South Korea's Kospi slipped 0.3 percent to 2,474.79. Hong Kong's Hang Seng index fell 0.1 percent to 28,698.05 while the Shanghai Composite Index dropped 0.4 percent to 3,368.62. Australia's S&P/ASX 200 added 0.1 percent to 5,895.90. Stocks in Taiwan and Singapore were higher but elsewhere in Southeast Asia, they were lower.

CHINA: China's economy expanded at a 6.8 percent annual pace during the July-September quarter, relatively stable growth but slightly below the previous quarter's 6.9 percent, government data showed. The latest result gives a boost to the ruling Communist Party that has been trying to steer the world's second-largest economy to slower, more sustainable growth based on consumer spending rather than exports and investment.

BANK OF KOREA: The Bank of Korea's policymakers kept its key policy rate at a record low 1.25 percent but for the first time in a year the decision Thursday was not unanimous: one policymaker recommended a rate hike. The result reinforces suspicions that a rate increase may be in the offing, making South Korea among the first Asian countries to begin monetary tightening. The central bank slightly revised upward its forecast for growth in Asia's fourth-largest economy, to 3 percent this year.

WALL STREET: U.S. stocks finished with modest gains on Wednesday recording more milestones for Wall Street. The Standard & Poor's 500 index rose 0.1 percent to 2,561.26, a record high, while the Dow Jones industrial average closed at 23,157.60, up 0.7 percent. The Nasdaq composite index was flat at 6,624.22. The Russell 2000 index of smaller-company stocks gained 0.5 percent to 1,505.14.

OIL: Benchmark U.S. crude lost 9 cents to $52.17 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 15 cents to settle at $52.26 a barrel on Wednesday. Brent crude, used to price international oils, fell 11 cents to $58.04 per barrel in London. It gained 27 cents to close at $58.15 a barrel on Wednesday.

CURRENCIES: The dollar rose to 112.98 yen from 112.93 yen. The euro strengthened to $1.1801 from $1.1788.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

 
   

 

~:~

Search for AP news  


Advertising with AM1400
is as EASY AS
1-2-3 .
Click Here
for more info.
 
 


     
       
Privacy Statement  |  Terms of Use
© 2007 The New WZAZ Gospel 1400. All Rights Reserved. Site Designed by Rhema Inspired Inc.