Asian shares are mostly lower in muted trading as attention focuses on prospects for improved China-U.S. relations from meetings next week on the sidelines of a Pacific Rim summit.
Ponte Vedra Beach resort gets okay to renovate over 300 rooms as community members meet the decision with mixed feelingsThere’s not much time left to get this full leg massager at a discounted priceA currency trader passes by the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Nov. 8, 2023.
Japan's benchmark Nikkei 225 dropped 0.3% to finish at 32,166.48. South Korea’s Kospi lost 0.9% to 2,421.62.Moody’s Investors Service affirmed the Government of Japan’s A1 long-term foreign currency and local currency issuer and local currency senior unsecured ratings. The outlook was maintained at stable.
Tuesday on Wall Street, the S&P 500 rose 0.3% to 4,378.38, as gains for some Big Tech stocks helped offset losses for the majority of stocks in the index. The majority of big companies has been topping estimates so far this earnings reporting season, but another factor has been much more influential in driving the stock market’s big swings since the summer:Earlier in the summer, a swift rise in Treasury yields sent the stock market reeling. Yields were catching up to the Federal Reserve’s main interest rate, which is above 5.25% and at its highest level since 2001 in hopes of getting high inflation under control.
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