BEIJING (AP) — Global stock markets were mixed Tuesday as investors looked ahead to minutes from the U.S. Federal Reserve’s latest meeting and Wall Street prepared to reopen after a three-day weekend.
KEEPING SCORE: In early trading, Germany’s DAX advanced 0.2 percent to 11,850.27 while London’s FTSE 100 retreated 0.4 percent to 7,270.38. France’s CAC 40 was unchanged at 4,862.55. On Monday, the DAX gained 0.5 percent while the FTSE 100 lost 0.2 percent and the CAC 40 shed 0.1 percent. On Wall Street, the future for the Dow Jones industrial average was up 0.2 percent while that for the Standard & Poor’s 500 advanced 0.1 percent.
ASIA’S DAY: Tokyo’s Nikkei 225 advanced 0.7 percent to 19,381.44 and the Shanghai Composite Index gained 0.4 percent to 3,253.33. Hong Kong’s Hang Seng retreated 0.8 percent to 23,963.63 while Sydney’s S&P-ASX 200 lost 0.1 percent to 5,791.00. Seoul’s Kospi gained 0.9 percent to 2,102.93. Benchmarks in New Zealand, Malaysia and the Philippines also rose. India’s Sensex lost 0.1 percent to 28,645.52 while Singapore, Bangkok and Jakarta also declined.
WALL STREET: Stock indexes reached record highs Friday, capping a fourth straight week of gains for the Standard & Poor’s 500 index. U.S. markets were due to reopen Tuesday following the Presidents’ Day holiday. Sentiment has benefited from reports last week showing the economy is improving and corporate profits are growing more quickly than expected. On Friday, the S&P 500 rose 0.2 percent to 2,351.16 points. The Dow Jones industrial average ended up 0.1 percent at 20,624.05. The Nasdaq rose 0.4 percent to 5,838.58.
JAPANESE MANUFACTURING: A gauge of Japanese manufacturing activity rose to its highest level in February since 2014. The flash estimate of the purchasing managers’ index rose to 53.5 from January’s 52.7 on a 100-point scale on which numbers above 50 indicate an expansion. The index showed price pressures strengthening.
FED WATCH: The Federal Reserve is due to release minutes of its January policy meeting on Wednesday, which might provide new insight in the U.S. central bank’s views on interest rates. Last week, Fed chief Janet Yellen indicated it is likely to speed up the pace of interest rate rises if the job market remains healthy and inflation stays on track.
CHINA TRADE: China’s commerce minister appealed to Washington to negotiate disputes with Beijing and avoid a “trade war” that he warned would hurt both sides. Gao Hucheng, responding to a question about U.S. President Donald Trump’s promise to raise taxes on Chinese imports, said at a news conference Tuesday the two governments should work together to promote trade. Trump promised during his election campaign to raise import duties on Chinese goods to 40 percent but has yet to take formal action.
GREEK DEBT: Greece and its European creditors agreed Monday to resume talks on what economic reforms the country must make next in order to get the money it needs to avoid bankruptcy and a potential exit from the euro. The creditors also hinted that they would temper their demands for budget cuts — a welcome thought for austerity-weary Greeks who have seen poverty and unemployment spike as their economy shrank by a quarter over the recent crisis-ridden years. Easing up on austerity has been a key demand of Greek Finance Minister Euclid Tsakalotos.
ENERGY: Benchmark U.S. crude oil rose 38 cents to $54.16 per barrel in electronic trading on the New York Mercantile Exchange. The contract advanced 3 cents on Monday to close at $53.78. Brent crude, used to price international oils, added 42 cents to $56.60 in London. It gained 23 cents on Monday to $56.18.
CURRENCY: The dollar rose to 113.51 yen from Monday’s 113.37 yen. The euro declined to $1.0562 from $1.0609.