Stock market today: World shares are mixed after Wall Street's mixed finish, as dollar surges
Shares have opened higher in Europe after mostly falling in Asia following a report showing inflation in the U.S. was roughly as expected last month
BANGKOK — Shares rose in European trading after a retreat in Asia on Thursday following a report showing inflation in the U.S. was roughly as expected last month.
Germany's DAX surged 1.2% to 19,223.90 and the CAC 40 in Paris advanced 0.8% to 7,274.79. Britain's FTSE 100 edged 0.1% higher, to 8,042.07.
The futures for the S&P 500 and the Dow Jones Industrial Average were up 0.2%.
The dollar was trading at 156.10 Japanese yen, up from 155.49 yen, reflecting expectations that the greenback will gain against other currencies under policies anticipated with the incoming administration of President-elect Donald Trump.
Japan's Nikkei 225 index fell 0.5% to 38,535.70 and the Kospi in South Korea gained 0.1% to 2,418.86. Australia's S&P/ASX 200 gained 0.4% to 8,224.00.
Chinese markets tumbled, with the Hang Seng in Hong Kong falling 2% to 19,435.95. The Shanghai Composite index lost 1.7% to 3,379.84.
Bangkok's SET lost 0.2% and Taiwan's Taiex fell 0.6%, while the Sensex in India shed 0.2%.
A stronger dollar tends to put strain on other economies, noted Stephen Innes of Capital Economics. The Thai baht has also weakened against the dollar since the U.S. election, as has the Chinese yuan, or renminbi, which now stands at 7.2245 per dollar and was trading at about 7 yuan per dollar in early October.
“For Asia, particularly those economies closely linked to China, the dollar's dominance is poised to become an economic wrecking ball,” he said in a commentary. “Countries with hefty USD-denominated debt are bracing for impact,” he added.
On Wednesday, U.S. stocks drifted to a mixed
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