Tue, 26 Sep 2023

NEW YORK, New York - Stocks closed mixed the world over Thursday as investors struggled to get a clear picture on the way ahead. The latest CPI data showed inflation in the U.S. in July running at an annualized 8.50 percent for the second month in a row, causing some commentators to call inflation as having peaked. Others are not so sure.

Wall Street tacked on to the global trend, and it too finished mixed. The foreign exchange market was similarly placed, although, with most currencies, most of the gains triggered by the CPI data were being maintained.

The Dow Jones industrials was the only major index to finish ahead Thursday, albeit by 27.16 points or 0.08 percent. The index closed at 33,336.67.

The Nasdaq Composite fell 74.89 points or 0.58 percent to 12,779.91.

The Standard and Poor's 500 slipped 2.97 points or 0.07 percent to 4,207.27.

The U.S. dollar remained under pressure Thursday but clawed back a few basis points in each case before the close. The euro drifted slightly lower to 1.0313, approaching the close in New York Thursday. The British pound dipped to 1.2187. The Japanese yen was slightly lower at 133.03. The Swiss franc drifted down to 0.9420.

The Canadian dollar was unchanged at 1.2771. The Australian dollar appreciated to 0.7098. The New Zealand dollar was in demand at 0.6425.

In London, the FTSE 100 closed down 0.55 percent. The Paris-based CAC 40 gained 0.33 percent. The German Dax lost 0.05 percent.

China's Shanghai Composite gained 51.65 points or 1.60 percent to 3,281.67.

The Australian All Ordinaries rose 86.70 points or 1.20 percent to 7,325.40.

In Tokyo the Nikkei 225 shed 180.63 points or 0.65 percent to 7,325.40.

New Zealand's S&P/NZX 50 edged up 7.92 points or 0.07 percent to 11,760.01.

The Kospi Composite advanced 42.90 points or 1.73 percent to 2,523.78.

In Hong Kong, the Hang Seng surged 471.59 points or 2.40 percent to 20,082.43.

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