Stock market today: Global shares are mostly lower as investors pin hopes on rate cuts

Mar25,2024



Tokyo: global shares There was mixed trading on Monday investors Further signals from the Federal Reserve to start cutting interest rates are awaited. France's CAC 40 was almost unchanged at 8,151.94 in early trade, while Germany's DAX rose 0.1 percent to 18,227.53. Britain's FTSE 100 was little changed, falling less than 0.1 percent to 7,929.84.
Futures for the S&P 500 and the Dow Jones Industrial Average were 0.1 percent lower.
Japan's Nikkei 225 fell 1.2 percent to 40,414.12, as investors sold shares to take profits after the benchmark recently hit a record high.
Hong Kong's Hang Seng fell 0.2 percent to 16,473.64, while the Shanghai Composite fell 0.7 percent to 3,026.31.
The rate of China's currency yuan was fixed at 7.0996 against the US dollar. The official “central parity rate”, based on a weighted average of prices offered by market makers before the interbank market opens each trading day. Only 2 percent rise or fall is allowed in it each trading day.
The yuan weakened to a four-month low of 7.2282 against the dollar on Friday as the dollar gained against other currencies. Australia's S&P/ASX 200 rose 0.5 percent to 7,811.90. South Korea's Kospi fell 0.4 percent to 2,737.57.
A top Japanese finance official expressed reservations about the US dollar's recent surge against the Japanese yen, sparking speculation of possible market intervention. The dollar has risen to about 152 yen, up from slightly more than 130 yen a year ago. On Monday, it was trading at 151.32 yen, down from 151.41 yen. The price of the euro has increased from US$1.0810 to US$1.0823.
The Bank of Japan last week raised its key interest rate from below zero or negative interest rates to just above zero for the first time in 17 years. This means that lending rates in Japan still remain below those in the US and many other countries.
“The recent Bank of Japan meeting added another layer of complexity to the dollar's trajectory,” said Luca Santos, currency analyst at ACY Securities. “Despite the BOJ's decision to hike rates, the cautious communication encouraged demand for the Japanese yen.” Failed to do.”
On Friday, the S&P 500 slipped 0.1 percent from its all-time high, while the Dow Jones Industrial Average fell 0.8 percent. The Nasdaq Composite rose 0.2 percent, setting another record.
The US Federal Reserve has indicated that as long as inflation remains calm, it may make three interest rate cuts this year. The Fed's key interest rate is at its highest level since 2001.
In energy trading, benchmark US crude rose 45 cents to US$81.08 a barrel. Brent crude, the international benchmark, rose 48 cents to US$85.91 a barrel.



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