An electronic board displays the Nikkei average closing price at 41,190.68 down 1,033 yen, the biggest drop this year, on the Tokyo Stock Exchange in Tokyo on July 12, 2024.HONG KONG, China —
The figures were not enough to overshadow Thursday's news that the consumer price index had slowed more than expected in June, which ramped up bets on a Federal Reserve interest rate cut in September. While the odds of him beating President Joe Biden had been rising in recent weeks, they got an extra lift from the shooting.
"Financial markets are expected to soon refocus on the Federal Reserve and the growing likelihood of a rate cut in September." The "data releases showed that the road to five percent growth remains difficult, and more fiscal and monetary policy support will be needed in the second half of the year if this year's key growth target is to be achieved", said Lynn Song at ING.Shanghai - Composite: UP 0.1 percent at 2,974.01 Euro/pound: DOWN at 83.95 pence from 83.97 penceBrent North Sea Crude: DOWN 0.3 percent at $84.
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Japanese yen touches 38-year low as global stocks finish mixedThe yen, weakened by the Japanese government's easy monetary policy, hit a 38-year low against the dollar on Wednesday, sparking speculation about a new intervention by authorities.
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