World Shares Fall Monday 09/24 05:55
Shares have fallen in Europe and Asia after China reportedly rebuffed a plan
for talks with the U.S. on resolving their dispute over trade and technology.
BANGKOK (AP) -- Shares have fallen in Europe and Asia after China reportedly
rebuffed a plan for talks with the U.S. on resolving their dispute over trade
KEEPING SCORE: Germany's DAX fell 0.4 percent to 12,382.50 and the CAC 40 in
France lost 0.3 percent to 5,479.86. The FTSE 100 in Britain lost 0.2 percent
to 7,472.33. The futures contracts for the Dow Jones industrial average and the
S&P 500 both fell 0.2 percent, auguring a slow start on Wall Street.
THE DAY IN ASIA: Hong Kong's Hang Seng index fell 1.6 percent to 27,499.39
and Australia's S&P ASX 200 edged 0.1 percent lower to 6,186.90. India's Sensex
gave up 1.5 percent to 36,296.80. Shares rose in Singapore but fell in Thailand
and Indonesia. Markets in Japan, South Korea, Shanghai and elsewhere in the
region were closed for national holidays.
CHINA-US-TRADE: China and the U.S. pressed ahead with another tariff hike on
each other's products. There was no sign that proposed trade talks between
Washington and Beijing would go ahead. The two sides have announced penalty
tariffs on tens of billions of dollars' worth of each other's exports in an
escalating dispute over Beijing's state-led technology development and other
ANALYST'S VIEWPOINT: "The weekend headlines have not been a blessing for
'risk sentiment,'" Stephen Innes of OANDA said in a commentary. He added, "the
optimist in me is siding on 'this too shall pass,' but with markets closed in
Japan, China and South Korea as a large part of Asia celebrates the Mid-Autumn
festival, it impossible to gauge sentiment in these drastically diminished
WALL STREET: Wall Street capped a milestone-setting week Friday with a mixed
finish for the major U.S. stock indexes and the second all-time high in two
days for the Dow Jones Industrial Average. The S&P 500 index dropped 1.08
points on Friday to 2,929.67, just under its latest all-time high set a day
earlier. The Dow gained 0.3 percent to 26,743.50, thanks largely to gains in
Boeing and McDonald's. The Nasdaq composite lost 0.5 percent, to 7,986.96. The
Russell 2000 index of smaller companies gave up 0.5 percent to 1,712.32.
ENERGY: Benchmark U.S. crude picked up $1.48 cents to $72.26 per barrel in
electronic trading on the New York Mercantile Exchange. It gained 0.7 percent
to settle at $70.78 a barrel Friday in New York. Brent crude, used to price
international oils, added $1.96 to $80.20 per barrel.
CURRENCIES: The dollar rose to 112.66 yen from Friday's 112.60 yen. The euro
climbed to $1.1770 from $1.1752. The British pound rose to $1.3124 from