Global shares were mostly lower Monday on investor jitters over a weekend North Korean nuclear test that raised fears about regional stability.
TOKYO (AP) – Global shares were mostly lower Monday on investor jitters over a weekend North Korean nuclear test that raised fears about regional stability.
KEEPING SCORE: France CAC 40 slipped 0.4 percent in early trading to 5,102.26. Germany’s DAX lost 0.5 percent to 12,088.45. Britain’s FTSE 100 edged down 0.2 percent to 7,426.98. U. S. shares were also set to drift lower with Dow futures dipping 0.3 percent to 21,917. S&P 500 futures were down 0.4 percent at 2,463.70.
ASIA’S DAY: Japan’s benchmark Nikkei 225 edged down 0.9 percent to finish at 19,508.25, while Australia’s S&P/ASX 200 lost 0.4 percent to 5,702.00. South Korea’s Kospi dipped 1.2 percent to 2,329.65. Hong Kong’s Hang Seng slipped 0.9 percent to 27,703.67, but the Shanghai Composite rose 0.4 percent to 3,379.58.
NORTH KOREA: North Korea has said it successfully tested a hydrogen bomb. U. S. Defense Secretary Jim Mattis responded by saying that the U. S. will answer any threat from the North with a « massive military response – a response both effective and overwhelming. » President Donald Trump threatened to halt all trade with countries doing business with North Korea, a warning to China, and faulted South Korea for its « talk of appeasement. »
THE QUOTE: « Korean tensions are elevated again, » said Chang Wei Liang from the Singapore Treasury Division at Mizuho Bank. « While U. S. Defense Secretary Mattis warned of a ‘massive military response’ if the U. S. or its allies are threatened, risk-off sentiment this morning is not unduly excessive, largely because markets still do not expect any military escalation in the near-term. »
U. S. JOBS: The Labor Department said U. S. employers added 156,000 jobs in August. That was a bit less than analysts expected, but investors were pleased that the economy kept growing at a steady pace while inflation remains weak. They bet that will keep the Federal Reserve from raising interest rates too quickly.
ENERGY: Benchmark U. S. crude gained 10 cents to $47.39 a barrel. It added 6 cents to $47.29 a barrel in New York late Friday. Brent crude, which is used to price international oils, fell 70 cents to $52.05 a barrel in London.
CURRENCIES: The dollar fell to 109.47 yen from 110.04 yen late Friday. The euro slipped to $1.1891 from $1.1907.
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