Page 24 - ARUBA TODAY

Wednesday 5 July 2017 BUSINESS
A24

Aussie stocks shine as US holiday subdues global trading

percent following a month- cent to 2,380.52 and Hong
ly policy board meeting, Kong’s Hang Seng slumped
saying it was the right level 1.5 percent to 25,389.01.
for sustainable economic The Shanghai Composite
growth and to hit inflation Index lost 0.4 percent to
targets. 3,182.80. Benchmarks in
More importantly, they in- Taiwan and Southeast Asia
dicated they wouldn’t fol- also lost ground.
low counterparts in the ROCKET LAUNCH: Shares in
U.S., Britain, Europe and Seoul wobbled briefly af-
Canada who have either ter first reports that Pyong-
started raising rates or are yang fired yet another bal-
considering doing so. The listic missile toward Japan.
surprisingly neutral stance Stocks resumed sliding
of the RBA was felt across as more details came in.
markets. North Korean state media
The Australian dollar fell 0.7 said it was the country’s first
percent to $0.7607 as trad- successful test of an inter-
ers priced in a lower rate continental ballistic missile,
profile going out, but that flying 933 kilometers (580
helped stocks, and the miles) for 39 minutes before
country’s main S&P/ASX in- falling into the sea.
Men stand near an electronic stock board showing Japan’s Nikkei 225 index at a securities dex surged 1.8 percent to ENERGY: Benchmark U.S.
firm in Tokyo Tuesday, July 4, 2017. Australian shares jumped Tuesday as investors awaited the close at 5,783.80. crude advanced 10 cents
central bank’s interest rate decision while other Asian shares were mixed Tuesday amid the U.S. ANALYST TAKE: “Expecta- to $47.17 a barrel in elec-
trading holiday. tions that the RBA would tronic trading on the New
(AP Photo/Eugene Hoshiko) adopt a more hawkish York Mercantile Exchange.
By KELVIN CHAN soon. Elsewhere, trading while Germany’s DAX rhetoric were misplaced,” Brent crude, used to price
AP Business Writer was subdued as Wall Street dropped 0.3 percent to said Lee Hardman, curren- international oils, rose 8
HONG KONG (AP) — Aus- was shut for U.S. Indepen- 12,437.13. Britain’s FTSE 100 cy analyst at MUFG. cents to $49.76 a barrel in
tralian stocks were the dence Day and amid un- ended down 0.3 percent ASIAN SCORECARD: Else- London.
standout performers Tues- ease over North Korea’s as well, at 7,357.23. where in Asia, Japan’s CURRENCIES: The euro
day as the central bank latest missile launch. DECISION DOWN UNDER: benchmark Nikkei 225 in- was down 0.1 percent at
kept interest rates un- KEEPING SCORE: In Europe, Officials at the Reserve dex shed 0.1 percent to $1.1348 while the dollar fell
changed and signaled France’s CAC 40 closed 0.4 Bank of Australia kept inter- 20,032.35. South Korea’s 0.2 percent to 113.17 yen.
they wouldn’t be raised percent lower at 5,174.90 est rates unchanged at 1.5 Kospi declined 0.6 per- q

EU announces Japan summit, hoping to clinch trade pact

By RAF CASERT that EU leaders and Prime week in Hamburg, Germa-
ELAINE KURTENBACH Minister Shinzo Abe “are ny and to send a message
Associated Press expected to announce a in support of free trade,
BRUSSELS (AP) — The Euro- political agreement” on countering a U.S. backlash
pean Union and Japan will the deal in Brussels, hoping against broad trade pacts.
hold a summit on Thursday to overcome final hurdles Tusk said in a tweet that the
in hopes of clinching a far- blocking a proposed Eco- plan was “Ambitious free
reaching trade deal, EU nomic Partnership Agree- and fair trade deal in the
President Donald Tusk said ment.Japan and the EU making.”
Tuesday. have been working to Japanese Foreign Minis-
The EU said in a statement reach an accord before a ter Fumio Kishida is plan-
summit of the Group of 20 ning to travel to Brussels
industrial nations later this on Wednesday to help

A customer looks at various types of imported cheese sold
at a department store in Tokyo. Japan’s foreign minister is
preparing to head to Brussels to seek a breakthrough in talks
on a free trade agreement with the European Union.
(AP Photo/Koji Sasahara)

smooth the way. talks we had on June 30
Kishida told reporters he and July 1, we are currently
hoped the two sides could continuing tough nego-
reach a “basic agree- tiations,” Kishida said. “Al-
ment” after failing to though we cannot be too
bridge differences block- optimistic about the pros-
ing a proposed Economic pect of the talks, I strong-
Partnership Agreement ly hope to strike a basic
during last week’s negotia- agreement on Japan-EU
tions in Tokyo. EPA this time around as I
“Based on the ministerial head into the talks.”q