Presidents Donald Trump and Xi Jinping are expected to discuss the US-China TikTok deal in a call due later Friday (Kirill KUDRYAVTSEV) <\/p>\n
Stock markets diverged and the dollar rose Friday at the end of a week marked by central bank decisions, as attention turned to a call between US President Donald Trump and Chinese counterpart Xi Jinping.<\/p>\n
Nearing the half-way stage in Europe, London and Paris edged higher while Frankfurt dipped.<\/p>\n
The British pound retreated after official data showed UK government borrowing had reached its highest level since the Covid pandemic.<\/p>\n
Tokyo led losses among major Asian indices on expectations that Japan’s central bank would hike interest rates later this year after leaving borrowing costs unchanged Friday.<\/p>\n
Before the announcement, official data showed inflation in Japan — the world’s fourth-largest economy — slowed in August, with rice price rises easing following a sharp spike that had rattled the country’s government.<\/p>\n
The week saw a widely expected interest rate cut from the US Federal Reserve, as well as reductions by the central bank’s of Norway and Canada.<\/p>\n
The Bank of England left rates unchanged.<\/p>\n
“The key event today is the scheduled phone call between US President Trump and Chinese President Xi Jinping,” said Sam Cornford, head of trading at broker Ballinger Group.<\/p>\n
Trump told reporters he would speak to Xi about a deal to change ownership of the hugely popular video-sharing app TikTok.<\/p>\n
The US president has repeatedly put off a ban under a law designed to force TikTok’s Chinese parent company ByteDance to sell its US operations for national security reasons.<\/p>\n
“Trade issues are also likely to come up, and there\u2019s some speculation this could pave the way for an in-person meeting,” Cornford added.<\/p>\n
The call comes after high-level discussions between Washington and Beijing officials in Madrid, where they addressed trade ahead of a November tariff deadline.<\/p>\n
All three main Wall Street indices ended Thursday at record highs, thanks to another surge in the share prices of technology giants.<\/p>\n
That came after news that chip titan Nvidia will invest $5 billion in struggling US rival Intel and jointly develop processors for PCs and data centres.<\/p>\n
– Key figures at around 1100 GMT –<\/p>\n
London – FTSE 100: UP 0.1 percent at 9,234.49 points<\/p>\n
Paris – CAC 40: UP 0.3 percent at 7,874.83<\/p>\n
Frankfurt – DAX: DOWN 0.2 percent at 23,635.08<\/p>\n
Tokyo – Nikkei 225: DOWN 0.6 percent at 45,045.81 (close)<\/p>\n
Hong Kong – Hang Seng Index: FLAT at 26,545.10 (close)<\/p>\n
Shanghai – Composite: DOWN 0.3 percent at 3,820.09 (close)<\/p>\n
New York – Dow: UP 0.3 percent at 46,142.42 (close)<\/p>\n
Euro\/dollar: DOWN at $1.1759 from $1.1785 on Thursday<\/p>\n
Pound\/dollar: DOWN at $1.3495 from $1.3550<\/p>\n","protected":false},"excerpt":{"rendered":"Presidents Donald Trump and Xi Jinping are expected to discuss the US-China TikTok deal in a call due…\n","protected":false},"author":2,"featured_media":31517,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,22914,65,219,30268,111,139,69,22045,4420],"class_list":{"0":"post-31516","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-central-bank","10":"tag-donald-trump","11":"tag-economy","12":"tag-government-borrowing","13":"tag-new-zealand","14":"tag-newzealand","15":"tag-nz","16":"tag-us-federal-reserve","17":"tag-xi-jinping"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/31516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=31516"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/31516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/31517"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=31516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=31516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=31516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}