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Global shares mixed in listless trading on Wall Street slip

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by December 20, 2017 General

TOKYO (AP) — Global shares were mixed Wednesday in listless trading after Wall Street gave up some of its recent gains as traders awaited the passage of the Republican-backed U.S. tax bill.

KEEPING SCORE: France’s CAC 40 dipped 0.1 percent to 5,376.14 in early trading, while Germany’s DAX gained 0.2 percent to 13,236.48. Britain’s FTSE fell 0.1 percent to 7,536.48. U.S. shares were set to drift higher. Dow futures were up 0.3 percent at 24,849 and S&P 500 futures gained 0.2 percent to 2,690.1.

ASIA’S DAY: Japan’s benchmark Nikkei 225 rose 0.1 percent to finish at 22,891.72. Australia’s S&P/ASX 200 gained nearly 0.1 percent to 6,075.60. South Korea’s Kospi lost 0.3 percent to 2,472.37. Hong Kong’s Hang Seng slipped 0.1 percent to 29,234.09, while the Shanghai Composite fell 0.3 percent to 3,287.61.

US TAXES: Investors like the proposed tax cut because it would boost corporate profits and likely raise stock prices along with it. The bill, set for a final vote in the House later in the day, would initially cut taxes for most Americans, but by 2027 would increase tax bills for most.

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THE QUOTE: “In the run up to the year-end, equity markets can be seen cruising broadly in a cautious manner, where the confirmation of the U.S. tax bill passage is still needed for prices to further its run,” said Jingyi Pan, market strategist at IG in Singapore.

ENERGY: Benchmark U.S. crude rose 18 cents to $57.74 a barrel in New York. Brent crude, used to price international oils, added 10 cents to $63.90 a barrel in London.

CURRENCIES: The dollar rose to 113.10 yen from 112.58 yen late Tuesday in Asia. The euro rose slightly to $1.1847 from $1.1811.

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Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

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