Shares are mostly lower in Europe and Asia after China reported that its economy grew at a 4.9% annual pace in July-September, down from 6.3% in the previous quarter. U.S. futures also fell, while oil prices jumped more than $1. On Tuesday, Wall Street drifted to a mixed finish after a report showed U.S.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 18, 2023. A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 18, 2023. Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 18, 2023.
Weak global demand and the property industry remain the biggest shadows overhanging the economy in the near term, economists said. The Nikkei 225 in Tokyo closed flat, gaining less than 2 points to 32,042.25. South Korea’s Kospi added 0.1% to 2,462.60 and Australia’s S&P/ASX 200 advanced 0.3% to 7,077.60.On Tuesday, the S&P 500 edged down less than 1 point to 4,373.20. The Dow Jones Industrial Average added less than 0.1%, to 33,997.65, and the Nasdaq composite fell 0.3%, to 13,533.75.last month than economists expected.
Bank of New York Mellon rose 3.8% after it also reported stronger profit than expected for the latest quarter.
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