World shares were mixed Thursday ahead of a decision on interest rates. Analysts said the monetary authority for the 20 euro currency countries in the European Union was bound to act. Inflation has fallen to target levels and growth is slowing.
Germany’s DAX edged 0.1% higher to 20,423.73. The CAC 40 in Paris was up less than 0.1%, at 7,426.24. Britain’s FTSE 100 gained 0.2% to 8,321.29.
The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.2%. Chinese shares rose as Beijing set economic plans and targets for the coming year. The government announced plans to expand trial private pension programs to the entire country, beginning Dec.
15. The Hang Seng in Hong Kong jumped 1.2% to 20,397.05. The Shanghai Composite index gained 0.9% to 3,461.50.
Tokyo’s Nikkei 225 index advanced 1.2% to 39,849.14, led by buying of technology shares. Advantest Corp., which makes equipment for testing computer chips, gained 5.1%. Chip maker Tokyo Electron was up 0.6%.
South Korea’s Kospi gained 1.6% to 2,482.12. The S&P/ASX 200 in Australia slipped 0.3% to 8,330.30.
China expands private pension trials
Taiwan’s Taiex climbed 0.6%. The Sensex in India shed 0.3%. The SET in Bangkok edged 0.1% lower.
U.S. stock indexes resumed climbing on Wednesday after positive developments cleared the way for more support. The S&P 500 rose 0.8%, breaking its nearly month-long losing streak. Big Tech stocks helped drive the Nasdaq composite up 1.8% to 20,034.89, its first close above 20,000.
The Dow Jones Industrial Average dipped 0.2%. Inflation in the U.S. ticked up to 2.7% in November from a year earlier, slightly higher than October’s 2.6%. It was fueled by pricier used cars, hotel rooms, and groceries.
The expectation is that the Federal Reserve will still cut interest rates at its meeting next week. In corporate news, Albertsons fell 1.5% after filing a lawsuit against Kroger. The lawsuit alleged insufficient efforts to secure regulatory clearance for their proposed $24.6 billion merger.
The merger was recently rejected by regulatory authorities in Oregon and Washington. In other dealings early Thursday, U.S. benchmark crude oil picked up 28 cents to $70.57 per barrel. Brent crude oil, the international standard, gained 27 cents to $73.79 per barrel.
The U.S. dollar rose to 152.52 Japanese yen from 152.46 yen. The euro rose to $1.0518 from $1.0496.
