Global markets mixed as oil stays below $80, Fed decision awaited
By Aboki Forex —
World shares traded in mixed territory on Wednesday. Oil prices remained below $80 a barrel as investors watched for details on the interim agreement between the United States and Iran to end the war.
U.S. futures were also mixed ahead of a key decision by the Federal Reserve on interest rates. In Europe, Britain's FTSE 100 edged 0.2% lower to 10,471.84 after official data showed UK inflation held steady at 2.8% in May despite rising fuel prices. Germany's DAX fell 0.3% to 24,829.58. France's CAC 40 rose 0.2% to 8,465.32.
Asian stocks were mostly higher. Japan and South Korea set new records. Tokyo's Nikkei 225 gained 0.7% to 69,902.25 after hitting an intraday high of 70,125.75. Japan's exports jumped 17% in May from a year earlier, boosted by strong demand for high-tech products.
South Korea's Kospi rose 1.6% to 8,864.24, another all-time high. Big technology stocks climbed despite a sell-off of artificial intelligence-related shares on Wall Street. Samsung Electronics gained 1%. Chipmaker SK Hynix jumped 5.8%.
Hong Kong's Hang Seng fell 0.7% to 24,312.16. The Shanghai Composite index rose 0.4% to 4,108.08. Australia's S&P/ASX 200 climbed 0.5% to 8,966.30. Taiwan's Taiex added 0.2%. India's Sensex rose 0.3%.
Oil prices steadied after falling sharply earlier. Traders were optimistic over a possible end to the war and the reopening of the Strait.