Japanese stocks fell
after the yen strengthened against the dollar as minutes from the
Federal Reserve’s latest policy meeting led traders to reduce bets that
the central bank will increase U.S. interest rates in September.
The Topix index lost
0.4 percent to 1,641.39 at 9:01 a.m. in Tokyo, with all but six eight of
its 33 industry groups retreating. The Nikkei 225 Stock Average
declined 0.2 percent to 20,181.21. The yen traded at 123.92 per dollar
after gaining 0.5 percent on Wednesday. China’s currency devaluation
continued to roil emerging-market assets, with concern over the impact
of a Chinese slowdown on global growth fueling a rout in commodities.
E-mini futures on the
Standard & Poor’s 500 Index added 0.1 percent after the underlying
gauge slipped 0.8 percent in New York on Wednesday.
U.S. policy makers
said at their meeting in July that they need to see further improvement
in the U.S. labor market and inflation rate before raising rates, the
Fed minutes showed. The consumer price index climbed 0.1 percent in
July, the smallest advance in three months, a Labor Department report
showed Wednesday in Washington.
Source: Bloomberg
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