Stock market today: Global shares trade mixed despite Wall Street's record rally

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Global shares are mixed in muted trading as optimism set off by a record rally on Wall Street gradually ran out of momentum.

FILE - A person looks at an electronic stock board showing Japan's stock prices at a securities firm Friday, March 1, 2024, in Tokyo. Asian shares mostly rose Wednesday, March 13, encouraged by a record rally on Wall Street that was led by technology companies. – Global shares were mixed in muted trading Wednesday as optimism set off by a record rally on Wall Street gradually ran out of momentum.

Australia's S&P/ASX 200 rose 0.2% to 7,729.40 and South Korea's Kospi gained 0.4% to 2,693.57. But Japan’s benchmark Nikkei 225 lost its morning gains to finish at 38,695.97, slipping 0.3%.0.4% to 3,043.83. In currency trading, the U.S. dollar rose slightly to 147.78 Japanese yen from 147.63 yen. The euro cost $1.0933, inching up from $1.0930.

“Economic data has further validated the BoJ’s stance, with markets witnessing higher-than-expected Japan's wage growth for January, while Japan’s economy managed to skirt a technical recession in its updated fourth quarter gross domestic product,” said Yeap Jun Rong, market analyst at IG.were close to expectations, and traders held on to hopes that the longer-term trend downward means the Federal Reserve will begin rate cuts in June.

Source: News Formal (newsformal.com)

 

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