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Shares are mostly lower in Europe after a lackluster day of trading in Asia Shares opened lower in Europe on Tuesday after a day of declines in most Asian market s. Germany's DAX fell 0.4% to 15,765.55 and the CAC 40 in Paris dropped 0.8% to 7,224.88. Britain's FTSE 100 edged 0.1% lower to 7,442.85. The future for the S &P 500 was down 0.3%, while that for the Dow Jones Industrial Average lost 0.2%. In Asian trading, Hong Kong's benchmark fell 2.1%, to 18,456.91, as investors sold real estate shares to lock in gains fueled by recent government efforts to support the ailing property industry. China Vanke lost 1.1%, while Country Garden Holdings gave up 1%. Hong Kong-based Sun Hung Kai Properties shed 2%. Chinese services data came in weaker than expected, dulling hopes for a rebound in China's lackluster growth. Meanwhile, a survey showed business activity in China's services sector increased at the slowest pace in eight months. The Shanghai Composite index...

Shares are mostly lower in Asia after Wall Street drifted downward following a rally that had sent it roaring 16% higher for the year so far BANGKOK -- Shares slipped in Asia on Thursday after Wall Street drifted downward following a rally that sent it roaring 16% higher for the year so far. Hong Kong’s Hang Seng index dropped 3% on heavy selling of Chinese banks shares after Goldman Sachs downgraded them citing concerns about the slowing economy and lenders' exposures to debt. Japan’s Nikkei 225 lost 1.7%. U.S. futures declined and oil prices were mixed. Share prices had soared recently amid signs the U.S. economy is stronger than had been feared, fending off recession so far despite high interest rates. Minutes from the Federal Reserve’s latest policy meeting released Wednesday showed that some central bank officials wanted to raise rates in mid-June, though in the end they voted unanimously to keep rates steady. The threat of further rate hikes has been weighing on investor sent...

Alaska Gov. Mike Dunleavy is proposing the state capitalize on carbon markets to help shore up revenues long reliant from the proceeds from oil and gas JUNEAU, Alaska -- Gov. Mike Dunleavy outlined proposed legislation Thursday for Alaska to capitalize on carbon markets , seeking to diversify state revenues long heavily reliant on proceeds from oil. Dunleavy plans to introduce his so-called a carbon management bill package during the legislative session that begins next week. The Republican governor and members of his administration outlined the proposal at a news conference in Anchorage. Dunleavy said in a statement that he wants lawmakers to seriously consider it as a “cornerstone of a long-term fiscal solution" that would complement revenue from oil and gas and Alaska's nest-egg investment fund, the Alaska Permanent Fund. The state has relied heavily on oil revenue and earnings from the permanent fund to help pay for state government. Dunleavy has suggested a range of r...

Sooner or later, either Wall Street or the Federal Reserve has to blink WASHINGTON -- Sooner or later, either Wall Street or the Federal Reserve has to blink. Nearly a year into the Fed’s drive to quash inflation by hiking interest rates at a blistering pace, investors still don’t seem to fully believe what the Fed warns is coming next: Higher rates through the end of the year, which could sharply raise unemployment and slow growth. Wall Street has a more sanguine view: With inflation cooling from painful highs, investors are betting that the Fed will stop hiking rates soon, pause for a bit and then start cutting rates toward the end of the year to combat what many on Wall Street expect will be a mild recession. That relatively optimistic view has helped propel the broad S &P 500 stock index up 4.4% so far this year. Yet a host of Fed speakers last week underscored a contrasting message: They expect to raise their benchmark rate above 5%, modestly above Wall Street’s forecast. Doin...

Asian stock markets are higher ahead of the release of minutes from a Federal Reserve meeting that investors hope might show the U.S. central bank is moderating its plans for more interest rate hikes to cool inflation BEIJING -- Asian stock markets rose Wednesday ahead of the release of minutes from a Federal Reserve meeting that investors hope might show the U.S. central bank is moderating plans for more interest rate hikes to cool inflation. Shanghai, Hong Kong, Seoul and Sydney advanced. Tokyo retreated. Oil prices were little-changed. Wall Street fell Tuesday in the year's first trading day after recording its biggest annual decline in 14 years in 2022. Traders worry the Fed and other central banks might be willing to push the world into recession to extinguish inflation that is at multi-decade highs. They hope minutes from the Fed's December meeting might show policymakers are reducing or delaying planned rate hikes due to signs economic activity is slowing. “While the Fe...

Shares have begun the year mixed, with European benchmarks opening higher after a lackluster session for the few Asian markets not closed for New Year holidays BANGKOK -- Shares began the year mixed , with European benchmarks opening higher on Monday after a lackluster session for the few Asian markets not closed for New Year holidays. This week brings employment data and minutes from the latest meeting of the Federal Reserve, as 2023 begins with persisting uncertainties over the war in Ukraine and over the risk that interest rate hikes meant to tame inflation might lead to recession. Germany's DAX gained 0.5% in early trading to 13,996.02 and the CAC40 in Paris added 0.7% to 6,520.71. Markets in Britain and in the U.S. are closed Monday in observance of the New Year’s Day holiday. In Asia, South Korea’s Kospi fell 0.5% to 2,225.67 and the Sensex in Mumbai gained 0.4% to 61,109.23. Jakarta's benchmark was flat. Over the weekend, a report showed that Chinese manufacturing cont...

Asian stock markets have followed Wall Street higher following encouraging U.S. employment data but are headed for double-digit losses for the year BEIJING -- Asian stock market s followed Wall Street higher on Friday following encouraging U.S. employment data but were headed for double-digit losses for the year. Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices edged higher. Wall Street's benchmark S &P 500 index gained Thursday after the number of people applying for unemployment benefits rose only slightly last week despite repeated interest rate hikes to cool inflation by slowing economic activity. “Considering the market news was sparse, the shift higher has the hallmarks of a dead cat bounce,” said Stephen Innes of SPI Asset Management in a report. The Shanghai Composite Index gained 0.6% to 3,092.50. The Chinese benchmark is on track to end 2022 down more than 14% after the world's second-largest economy was depressed by anti-virus controls and a crackdown...