Global stocks edge lower after Wall Street's slide

AP News
|
Posted: Dec 29, 2016 7:18 AM
Global stocks edge lower after Wall Street's slide

TOKYO (AP) — Global stocks mostly fell in thin trading Thursday, taking their cues from a slide on Wall Street.

KEEPING SCORE: France's CAC 40 lost 0.1 percent to 4,841, while Germany's DAX fell 0.2 percent to 11,447. Britain's FTSE 100, which ended the previous session at a record close, sank 0.1 percent to 7,102. U.S. shares were expected to be steady on the open a day after the Dow suffered a triple-digit drop. Dow and S&P 500 futures were both roughly unchanged.

ASIA'S DAY: Japan's benchmark Nikkei 225 slipped 1.3 percent to finish at 19,145.14, as the strengthening yen, which reduces export earnings, weighed on market sentiments. Australia's S&P/ASX 200 recouped earlier losses and rose 0.3 percent to 5,699.10. South Korea's Kospi inched up 0.1 percent to 2,026.46. Hong Kong's Hang Seng rose 0.2 percent to 21,795.02, while the Shanghai Composite lost 0.2 percent at 3,096.10.

TAKATA JUMPS: Shares of Takata Corp., the Japanese air bag manufacturer at the center of a massive recall, surged 16 percent amid speculation that it will reach a settlement as soon as next month with U.S. authorities on criminal charges related to its air bag troubles. Sixteen deaths around the world have been linked to Takata air bag inflators that can explode with too much force.

TOSHIBA PLUNGES: Toshiba Corp.'s shares plunged 17 percent, their third straight day of double-digit losses after the company said it anticipates huge losses related to its acquisition of Chicago Bridge & Iron.

ASIA'S DAY: Japan's benchmark Nikkei 225 slipped 1.3 percent to finish at 19,145.14, as the strengthening yen, which reduces export earnings, weighed on market sentiment. Australia's S&P/ASX 200 recouped earlier losses, gaining 0.3 percent to 5,699.10. South Korea's Kospi inched up 0.1 percent to 2,026.46. Hong Kong's Hang Seng rose 0.2 percent to 21,795.02, while the Shanghai Composite lost 0.2 percent at 3,096.10. Shares were also lower in Taiwan.

ENERGY: Benchmark U.S. crude fell 13 cents to $53.93 a barrel in New York. Brent crude, used to price international oils, was up 14 cents to $56.36 a barrel in London.

CURRENCIES: In currency trading, the dollar fell to 116.60 yen from 117.62 yen late Wednesday in Asia. The euro fell to $1.0457 from $1.0468.

___

Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama

Her work can be found at http://bigstory.ap.org/content/yuri-kageyama