cloudy
Tuesday November 21st, 2017 3:23AM

Nikkei up but Asia shares mostly lower, digesting China data

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — Asian shares were mostly lower Tuesday as markets watched for tax reform developments in the U.S. and digested economic data from China.

KEEPING SCORE: Japan's benchmark Nikkei 225 recouped earlier gains to end the morning session at 22,441.24, up 0.3 percent. Australia's S&P/ASX 200 fell 0.9 percent to 5,967.50. South Korea's Kospi edged down 0.2 percent to 2,524.60. Hong Kong's Hang Seng was little changed at 29,180.64, while the Shanghai Composite lost 0.3 percent to 3,436.93.

WALL STREET: The Standard & Poor's 500 index rose 0.1 percent to 2,584.84. The Dow Jones industrial average gained 0.1 percent to 23,439.70. The Nasdaq composite 0.1 percent to 6,757.60, while the Russell 2000 index of smaller-company stocks was virtually unchanged at 1,475.07. More stocks fell than rose on the New York Stock Exchange.

CHINA WATCH: China's industrial value-added output expanded 6.2 percent year-on-year in October, slowing from 6.6-percent growth in September, according to the National Bureau of Statistics. China's private fixed-asset investment increased 5.8 percent on year in the first 10 months of this year, lower than the 6-percent increase for the first nine months. The Chinese economy is still growing but the focus is on assessing whether that pace is slowing.

ANALYST VIEWPOINT: "The lethargic start to the week has offered few clues, and with all the second-guessing going on surrounding the events in Washington, investors continue to reduce rather than add to exposures," Stephen Innes of OANDA said in a commentary.

U.S. TAXES: Whether the U.S. tax overhaul legislation will pass is also being closely watched. It would deeply cut corporate taxes, double the standard deduction used by most Americans, and limit or repeal completely the federal deduction for state and local property, income and sales taxes. It carries high political stakes for President Donald Trump and Republican leaders in Congress.

ENERGY: Benchmark U.S. crude lost 12 cents to $56.64 per barrel in electronic trading on the New York Mercantile Exchange. It gained 2 cents to $56.76 on Monday. Brent crude, used to price international oils, slipped 21 cents to $62.95 a barrel in London.

CURRENCIES: The dollar rose to 113.62 yen from 113.30 yen on Friday. The euro strengthened to $1.1672 from $1.1656.

___

AP Business Writer Alex Veiga contributed to this report.

AP Business Writer Yuri Kageyama can be reached at https://twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Sessions open to idea of Clinton Foundation special counsel
Attorney General Jeff Sessions is leaving open the possibility that a special counsel could be appointed to look into Clinton Foundation dealings and a uranium deal during the Obama administration
10:43PM ( 26 minutes ago )
Trump Jr. messaged with WikiLeaks during 2016 campaign
President Donald Trump's son has released a series of direct messages he received from the Twitter account behind the WikiLeaks website
10:41PM ( 28 minutes ago )
Nikkei up but Asia shares mostly lower, digesting China data
Asian shares are trading mostly lower as markets watch for tax reform developments in the U.S. and digest economic data from China
10:37PM ( 32 minutes ago )
Associated Press (AP)
UN chief raises alarm over Rohingya in speech before Suu Kyi
The United Nations chief has expressed alarm over the tragic plight of Rohingya Muslims in Myanmar in a humanitarian crisis he says can cause regional instability and radicalization
9:47PM ( 1 hour ago )
Marlins have Stanton on the market as GM meetings start
The Miami Marlins will spend this week's general managers' meetings shopping Giancarlo Stanton
9:05PM ( 2 hours ago )
'Hannity' fans smash Keurig brewers over pulled ads
A decision by coffee maker manufacturer Keurig to stop advertising on Sean Hannity's Fox News program has supporters of the conservative host destroying the company's products
8:09PM ( 3 hours ago )
AP Business
Light at the end of GE's tunnel? Lighting, more, may be gone
General Electric slashed its dividend in half and trimmed expectations going forward at its investor meeting in New York
4:28PM ( 6 hours ago )
Trump buddies up to Duterte, doesn't highlight human rights
President Donald Trump is winding down his visit to Asia with a focus on promoting trade and fighting terrorism and not on publicly highlighting human rights abuses
2:53PM ( 8 hours ago )
US budget deficit up sharply to $63.2 billion in October
US budget deficit climbs to $63.2 billion in October, up 37.9 percent from a year ago
2:23PM ( 8 hours ago )
AP Business - Economy
Global stocks turn lower after recent record highs
Global stocks are down as investors become more cautious after several market indexes hit record highs in the past week
8:18AM ( 14 hours ago )
Global stocks mixed after Wall Street's losing week
Global stock markets are mixed following Wall Street's losing week as investors looked ahead to data releases and public comments by central bankers
4:29AM ( 18 hours ago )
Asian stocks mixed after Wall Street's losing week
Asian stock markets were mixed following Wall Street's losing week as investors looked ahead to a week of data releases and public comments by central bankers
12:34AM ( 22 hours ago )
AP Business - Financial Markets
Sessions open to idea of Clinton Foundation special counsel
Attorney General Jeff Sessions is leaving open the possibility that a special counsel could be appointed to look into Clinton Foundation dealings and a uranium deal during the Obama administration
10:43PM ( 26 minutes ago )
Trump Jr. messaged with WikiLeaks during 2016 campaign
President Donald Trump's son has released a series of direct messages he received from the Twitter account behind the WikiLeaks website
10:41PM ( 28 minutes ago )
Trump Jr. messaged with WikiLeaks during, after campaign
President Donald Trump's son has released a series of direct messages he received from the Twitter account behind the WikiLeaks website
10:30PM ( 40 minutes ago )
James, Korver lead Cavs' charge in 4th to top Knicks 104-101
LeBron James had 23 points and 12 assists, Kyle Korver scored 19 of his 21 points in the fourth quarter to spark a huge comeback, and the Cleveland Cavaliers beat the New York Knicks 104-101
10:25PM ( 44 minutes ago )
Analysis says Senate bill would hike taxes for 13.8 million
A nonpartisan analysis of the Senate GOP tax bill finds that it would increase taxes for some 13.8 million moderate-income American households
10:17PM ( 53 minutes ago )