TOKYO ( Associated Press) – Global stocks were mostly up on Thursday as investors welcomed encouraging economic data and quarterly earnings reports from major companies.
European stocks mostly edged higher in early trade. Benchmarks in Asia rose as panic eased over US House Speaker Nancy Pelosi’s visit to Taiwan. The gains came after a strong rally on Wall Street.
France’s CAC 40 rose 0.5% to 6,501.54 in early trade, while Germany’s DAX rose 0.7% to 13,688.05. Britain’s FTSE 100 fell 0.3% to 7,426.95. The future of the Dow Industrials rose less than 0.1%, while the S&P 500 also changed little, less than 0.1%.
Analysts said geopolitical risks remain even after Pelosi’s visit to Taiwan in defiance of Beijing, a military exercise being conducted by China Near the self-governing island which it claims as its territory.
Andersen Alves of ActiveTrades said, “Despite an easing of immediate concerns, investors will be looking for any potential escalation in US-China tensions, with any economic sanctions from China likely to negatively impact risk sentiment and the situation in Asian markets.” is likely to.”
Alves said investors are also looking at US non-farm payrolls due on Friday to see signs of hiring and how it could affect interest rate policy. But overall, Pelosi’s journey so far has had little impact on the markets. She was going to Seoul on Thursday and then to Japan.
Japan’s benchmark Nikkei 225 closed 0.7% higher at 27,932.20. Australia’s S&P/ASX 200 lost just 1 point to 6,974.90, losing earlier gains. South Korea’s Kospi rose 0.5% to 2,473.11. Hong Kong’s Hang Seng rose 2.1% to 20,174.04, while the Shanghai Composite climbed 0.8% to 3,189.04.
India’s Sensex fell 0.6% and Taiwan’s Taiex also fell 0.5%.
The focus is on earnings this week as investors analyze the latest results and statements from companies to better understand how inflation is affecting businesses and consumers.
Oil prices rise after OPEC’s decision to boost production In September at a much slower pace than in the previous months. Benchmark US crude rose 50 cents to $91.16 a barrel. On Wednesday, US crude fell 4% to $90.66 a barrel. International benchmark Brent crude rose 29 cents to $97.07 a barrel.
Coming data on the US jobs market could help investors determine how the Federal Reserve will proceed with its interest rate policy, which has been aggressive in trying and attempting inflation. Last week’s US jobless claims numbers will be released on Thursday.
In currency trading, the US dollar rose from 133.85 yen to 134.24 Japanese yen. The euro is priced at $1.0166, a slight change from $1.0170.
Yuri Kageyama is on Twitter https://twitter.com/yurikageyama