LONDON/SINGAPORE:World stocks were mixed Thursday, with markets mulling a raft of economic indicators including central bank rate decisions, inflation data, and last-minute trade deal negotiations ahead of US President Donald Trump's August 1 deadline.
The most recent development came from the Bank of Japan, which held interest rates and increased its inflation forecast. Japan's shorter-dated bond yields rose to their highest since early April, but walked that back after the BOJ's statement. The yen was steady at 149.73 per US dollar, while the Nikkei index closed up just over 1%.
Nasdaq futures gained 1.4% after better-than-expected results from Microsoft and Meta Platforms. S&P 500 futures advanced over 1%. “Meta and Microsoft have just delivered the kind of earnings most companies can only dream of,” said Dan Coatsworth at AJ Bell.
The Stoxx 600 index was steady around 1025 GMT and on track to end the month 1.6% higher. Regional banks rose over 1.5% after results from Standard Chartered and Societe Generale.
MSCI’s broadest index of world shares was flat, weighed by Chinese stocks. China’s CSI 300 fell 1.8% and Hong Kong’s index closed 1.6% lower.
The Korean won gained 0.3% after Trump said the US would charge a 15% tariff on imports from South Korea, which would invest $350 billion in US projects and purchase $100 billion in US energy.
The Federal Reserve voted 9–2 to hold rates steady. The dollar index steadied at 98.718. US GDP growth beat expectations, but data showed an economy losing steam under Trump’s trade policies.— Reuters
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