Asian shares mostly rise, cheered by Wall Street rally to more records
TOKYO AP Asian shares mostly rose in early Wednesday trading echoing record rallies on Wall Street after the latest update on the job territory bolstered hopes the U S Federal Reserve will cut interest rates Japan s benchmark Nikkei gained in morning trading to Australia s S P ASX added to South Korea s Kospi jumped to Hong Kong s Hang Seng rose to while the Shanghai Composite was little changed edging down less than to Uncertainty is still in the air over U S -China tariff issues as bilateral talks continue U S President Donald Trump has raised taxes on imports from China triggering a tit-for-tat tariff war The U S is at the moment charging an additional tariff on Chinese goods and China is charging a tariff under a de-escalation deal reached in May On Wall Street the S P rose and squeaked past its all-time high set last week The Dow Jones Industrial Average climbed points or while the Nasdaq composite gained They likewise set records Traders have become convinced that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in a week in order to prop up the slowing job industry A overview on Tuesday offered the latest signal of weakness when the U S governing body stated its prior count of jobs across the country through March may have been too high by or That was before President Donald Trump shocked the market system and financial markets in April by rolling out tariffs on countries worldwide The bet on Wall Street is that such input will convince Fed bureaucrats that the job field is the bigger predicament now for the economic system than the threat of inflation worsening because of Trump s tariffs That would push them to cut interest rates a move that would give the business activity a boost but could also send inflation higher A lot is riding on Wall Street s hope that the job arena is slowing by just the right amount Investors have already sent U S stock prices to records because of it Inflation also demands to stay at a reasonable level even though it looks tough to get below the Fed s target of In the bond area the yield on the -year Treasury rose to from late Monday In strength trading benchmark U S crude added cents to a barrel Brent crude the international standard rose cents to a barrel The rise in oil price has been relatively contained so far despite the escalation of tensions in the Middle East Israel struck the headquarters of Hamas political leadership in Qatar on Tuesday as the group s top figures gathered to consider a U S proposal for a ceasefire in the Gaza Strip In currency trading the U S dollar inched down to Japanese yen from yen The euro cost down from AP Business Writer Stan Choe contributed Source
