- Wall Street, Europe rise as Chinese shares tumble
- Hunkering down for Hurricane Milton at Disney -- but first, a few rides
- Reddy, Rinku power India to 221-9 in second Bangladesh T20
- Overshooting 1.5C risks 'irreversible' climate impact: study
- Time running out in Florida to flee Hurricane Milton
- Demis Hassabis, from chess prodigy to Nobel-winning AI pioneer
- The long walk for water in the parched Colombian Amazon
- Biden-Netanyahu to talk as Hezbollah, Israeli forces clash
- France vows to step up drugs fight after police vehicles torched
- Air France says jet flew over Iraq during Iran attack on Israel
- Activists target Picasso work to protest Israel arms sales
- Let 'Emily in Paris' remain in Paris, Macron says
- Global stocks diverge as Chinese shares tumble
- Time runs out in Florida to flee Hurricane Milton
- Chad issues warning ahead of more devastating floods
- Record-breaking Root helps England dominate Pakistan in first Test
- German govt sees economy shrinking again in 2024
- Ex-UK soldier denies passing secrets to Iran intelligence
- Creator's death no bar to new 'Dragon Ball' products
- Three Kosovo Serbs on trial over 'secession plot' attack
- Van Gogh museum to launch Impressionism show
- French minister ups ante in Eiffel Tower Olympic rings row
- Japan PM calls snap election to 'create a new Japan'
- German police shut pro-Palestinian camp over Thunberg invite
- Chinese stocks tumble on lack of fresh stimulus
- Trio wins chemistry Nobel for protein design, prediction
- SE Asian summit urges end to Myanmar violence but struggles for solutions
- Wimbledon replaces line judges with electronic system
- Record-breaking Root hits hundred as England power to 351-3
- Record-breaking Root hits hundred as England's power to 351-3
- Sabalenka relishes 'much-needed' tennis rivalry with Swiatek
- Liverpool goalkeeper Alisson set for six weeks out
- Taylor Swift got police escort to London gigs after Austria terror plot
- Cook tips Root to break Tendulkar's all-time runs record
- British skull auction sparks Indian demand for return
- Joe Root: England's elegant Test record-breaker
- Braving war: Lebanon's 'badass' airline defies odds
- Klopp to return as head of Red Bull football operations
- Hezbollah strikes Israel, says it foiled Israeli incursions
- Jurgen Klopp to return as head of Red Bull football operations
- Sinner to face Medvedev in Shanghai Masters quarter-finals
- US weighs Google breakup in landmark trial
- Record-breaking Root guides England to 232-2 in reply to Pakistan's 556
- Japan PM dissolves parliament for 'honeymoon' snap election
- Chinese stocks tumble on stimulus upset, Asia tracks Wall St higher
- 7-Eleven owner confirms new takeover offer from Couche-Tard
- Goodbye Tito? Tomb at risk as Serbs argue over Yugoslav legacy
- Restoration experts piece together silent Sherlock Holmes mystery
- Sinner avoids Shanghai deja vu with assured Shelton win
- Pyongyang to 'permanently' shut border with South Korea
RIO | -0.54% | 66.305 | $ | |
BTI | 0.95% | 35.559 | $ | |
CMSC | 0.28% | 24.71 | $ | |
SCS | 2.7% | 13.135 | $ | |
BCC | 0.88% | 143.28 | $ | |
CMSD | -0.01% | 24.85 | $ | |
JRI | 0.36% | 13.208 | $ | |
BP | -0.2% | 31.965 | $ | |
RBGPF | -2.48% | 59.33 | $ | |
NGG | -0.12% | 65.82 | $ | |
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BCE | -0.13% | 33.465 | $ | |
GSK | 0.91% | 38.37 | $ | |
AZN | 0.31% | 77.11 | $ | |
RELX | 0.05% | 46.665 | $ | |
VOD | 0.77% | 9.735 | $ |
Global stocks diverge as Chinese shares tumble
Wall Street shares steadied Wednesday as investors awaited new signals on interest rates but Chinese stocks tumbled on continued disappointment over a lack of fresh stimulus in the world's second biggest economy.
Europe's main stock markets were slightly higher.
Oil prices fell for a second day on news reports of rising US inventories and as Israel appears to be holding off -- at least for the moment -- from striking Iranian energy installations.
Wall Street rallied Monday before giving up most of those gains Tuesday and the "market looks a bit flummoxed about what the next turn will be", said Patrick O'Hare, an analyst at Briefing.com.
Last week's strong jobs report has convinced most investors that the US Federal Reserve will go slow with future interest rate cuts, but new clues should emerge this week.
Minutes from the Fed's September meeting, due later on Wednesday, will be examined for insight into the Fed's thinking.
On Thursday, a consumer prices report will show whether the central bank has brought inflation under control.
US shares were also rattled by the US Department of Justice's announcement Tuesday that it would demand that Google make profound changes to how it does business and may even consider the possibility of a breakup.
Google's parent company Alphabet was down about one percent in early trading Wednesday.
Boeing was down almost three percent after it suspended negotiations with its striking workers late Tuesday over what it said were unreasonable demands.
Chinese shares have also been volatile recently, with investors first enthusiastic about a series of steps to kickstart domestic growth and then left deflated Tuesday when a press conference did not provide any further measures.
"When the market's expectations were set sky-high for a 2-3 trillion yuan stimulus package and instead got hit with a big, fat zero, the party was over before it even began," said Stephen Innes, a partner at SPI Asset Management.
Investors are now awaiting a Saturday briefing on fiscal policy by Finance Minister Lan Fo'an for more indications about official plans.
But analysts warned there was unlikely to be the big "bazooka" stimulus akin to the support seen during the global financial crisis.
Shehzad Qazi at China Beige Book said Beijing was "opting for targeting stimulus -- including allocating funds for projects previously announced".
Hong Kong's stock market had soared more than 20 percent between the first batch of announced measures in late September and the start of this week.
The Hang Seng Index collapsed more than nine percent on Tuesday -- its worst day since 2008 -- and shed another one percent Wednesday.
Shanghai ended 6.6-percent lower on Wednesday.
The dollar climbed against its main rivals on expectations that interest rate differentials will continue to favour the US currency.
- Key figures around 1245 GMT -
New York - Dow: FLAT at 42,073.23 points
New York - S&P 500: DOWN 0.1 percent at 5,746.10
New York - Nasdaq Composite: DOWN 0.2 percent at 18,138.52
London - FTSE 100: UP 0.2 percent at 8,207.34
Paris - CAC 40: UP 0.2 percent at 7,533.12
Frankfurt - DAX: UP 0.3 percent at 19,122.59
Shanghai - Composite: DOWN 6.6 percent at 3,258.86 (close)
Hong Kong - Hang Seng Index: DOWN 1.4 percent at 20,637.24 (close)
Tokyo - Nikkei 225: UP 0.9 percent at 39,277.96 (close)
West Texas Intermediate: DOWN 1.2 percent at $72.72 per barrel
Brent North Sea Crude: DOWN 1.1 percent at $76.30 per barrel
Euro/dollar: DOWN at $1.0955 from $1.0981 on Tuesday
Pound/dollar: DOWN at $1.3072 from $1.3100
Dollar/yen: UP at 149.07 yen from 148.29 yen
Euro/pound: UNCHANGED at 83.80 pence
D.Schneider--BTB