BANGKOK — Shares fell Thursday in most Asian markets ahead of a key U.S. inflation report due Friday that might point the way ahead for interest rates.
The latest move to revive the property sector was by Beijing, one of China's biggest cities, when China's capital cut minimum down-payment ratios and mortgage interest rates, beginning Thursday. The U.S. dollar was trading at 160.35 yen early Thursday, having punched through the 160 level a day earlier to its lowest level since 1986. Japanese officials have warned they may intervene in the market to counter the trend, which has both positive and negative effects on the economy.Elsewhere in Asia, Australia's S&P/ASX 200 fell 0.3% to 7,759.60. Taiwan's Taiex lost 0.4% and Bangkok's SET sank 0.7%. Shares rose in Mumbai, Jakarta and Singapore.
The Dow Jones Industrial Average finished less than 0.1% higher, at 39,127.80, while the Nasdaq composite rose 0.5% to 17,805.16.FedEx helped offset the losses with a gain of 15.5%. The package carrier reported results for its latest quarter that easily beat forecasts.Apple rose 2% and Microsoft gained 0.3%. Their large values tend to heavily influence the direction of the market.
In other dealings, benchmark U.S. crude oil lost 11 cents to $80.79 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, shed 9 cents to $84.38 per barrel.This dividend stock is sure to benefit from ongoing cuts in the key interest rate and is already seeing some major opportunities ahead. The post 1 Dividend Stock to Buy if the Bank of Canada Keeps Cutting Rates appeared first on The Motley Fool Canada.
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