Asian stocks mixed after ECB announcement, US data - WSFA.com Montgomery Alabama news.

Asian stocks mixed after ECB announcement, US data

(AP Photo/Shuji Kajiyama). People walk by an electronic stock board of a securities firm in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first day of trading after an unpr... (AP Photo/Shuji Kajiyama). People walk by an electronic stock board of a securities firm in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first day of trading after an unpr...
(AP Photo/Shuji Kajiyama). A woman reads a book in front of an electronic stock board showing Nikkei's stock index in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first da... (AP Photo/Shuji Kajiyama). A woman reads a book in front of an electronic stock board showing Nikkei's stock index in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first da...
(AP Photo/Shuji Kajiyama). A drink vendor moves past an electronic stock board of a securities firm in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first day of trading af... (AP Photo/Shuji Kajiyama). A drink vendor moves past an electronic stock board of a securities firm in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first day of trading af...
(AP Photo/Shuji Kajiyama). People walk past an electronic stock board of a securities firm in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first day of trading after an un... (AP Photo/Shuji Kajiyama). People walk past an electronic stock board of a securities firm in Tokyo, Thursday, June 14, 2018. Asian stock markets slumped on Thursday with South Koreans stocks plunging 1.6 percent on the first day of trading after an un...

By YOUKYUNG LEE
AP Business Writer

SEOUL, South Korea (AP) - Asian stock markets were mixed Friday after Wall Street largely finished with gains following the European Central Bank's announcement to phase out its bond-buying stimulus. Upbeat U.S. data helped bolstered sentiment.

KEEPING SCORE: Japan's Nikkei 225 added 0.4 percent to 22,827.77 but South Korea's Kospi retreated 0.5 percent to 2,412.10. Hong Kong's Hang Seng index inched up 0.1 percent to 30,473.09 while China's Shanghai Composite Index fell 0.7 percent to 3,020.51. Australia's S&P-ASX 200 jumped 1.2 percent to 6,089.10. Stocks in Taiwan were lower while in Indonesia, markets were closed for a holiday.

EUROPE: The ECB on Thursday said it would phase out by the end of the year its bond-buying stimulus for the 19 countries that use the euro. It had deployed the program in 2015 to save the region from the risk of falling prices and growth. It also said it plans to hold off on raising interest rates until at least the summer of 2019, which is longer than some investors expected.

ANALYST'S TAKE: "While investors may fear higher interest rates, the stronger underlying economies that drive the stimulus withdrawal are positive for company profits," Michael McCarthy, chief market strategist at CMC Markets and Stockbroking, said in a daily commentary. "These competing drivers mean that investor sentiment swings are an important consideration for markets."

US DATA: The data for the U.S. economy released on Thursday were encouraging. Retail sales jumped in May after shoppers spent more at home and garden stores, gas stations and restaurants. A separate report showed that fewer U.S. workers filed for unemployment claims last week than expected, an encouraging sign for the labor market.

WALL STREET: U.S. stocks finished mostly higher on Thursday. The S&P 500 index rose 6.86 points, or 0.2 percent, to 2,782.49. The Dow Jones industrial average slipped 25.89, or 0.1 percent, to 25,175.31, and the Nasdaq composite rose 65.34, or 0.8 percent, to 7,761.04, a record.

CURRENCIES: The dollar rose to 110.68 Japanese yen from 110.65 yen while the euro was flat at $1.1568.

OIL: Benchmark U.S. crude rose 5 cents to $66.94 per barrel in electronic trading on the New York Mercantile Exchange. On Thursday, it rose 25 cents to settle at $66.89 per barrel. Brent crude, the international standard, fell 13 cents to $75.81 per barrel. On Thursday, it fell 80 cents to $75.94.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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