Texarkana Gazette - - MARKET REPORT -

TOKYO—Global stocks mostly fell on Tues­day as in­vestors watched for tax re­form de­vel­op­ments in the U.S. and di­gested weak man­u­fac­tur­ing data from China.

KEEP­ING SCORE: France’s CAC 40 shed 0.3 per­cent to 5,325 and Germany’s DAX fell 0.2 per­cent to 13,053. Bri­tain’s FTSE 100 added nearly 0.1 per­cent to 7,420. U.S. shares were set to drift lower, with Dow and S&P 500 fu­tures both down 0.2 per­cent.

DATA WATCH: Eco­nomic growth fig­ures were up­beat for Italy and Germany, which saw growth ac­cel­er­ate to a quar­terly 0.8 per­cent in the third quar­ter, from 0.6 per­cent in the pre­vi­ous three­month pe­riod. But new data for China dis­ap­pointed. Its growth in in­dus­trial value-added out­put slowed to an an­nual rate of 6.2 per­cent in Oc­to­ber, from 6.6-per­cent in Septem­ber. China’s pri­vate fixed-as­set in­vest­ment in­creased 5.8 per­cent on year in the first 10 months of this year, lower than the 6-per­cent in­crease for the first nine months. The Chi­nese econ­omy is still grow­ing but the fo­cus is on as­sess­ing whether that pace is slow­ing.

AN­A­LYST VIEW­POINT: “Risk ap­petite was . dither­ing,” an­a­lysts from Mizuho Bank Ltd. said in a com­men­tary. “The mood is cer­tainly nowhere near the ex­u­ber­ance ear­lier this year.”

U.S. TAXES: The fate of U.S. tax over­haul leg­is­la­tion re­mains un­cer­tain. It would deeply cut cor­po­rate taxes, dou­ble the stan­dard de­duc­tion used by most Amer­i­cans, and limit or re­peal com­pletely the fed­eral de­duc­tion for state and lo­cal prop­erty, in­come and sales taxes. It car­ries high po­lit­i­cal stakes for Pres­i­dent Don­ald Trump and Repub­li­can lead­ers in Congress.

ASIA’S DAY: Ja­pan’s Nikkei 225 stock in­dex was flat to fin­ish at 22,380.01 af­ter trad­ing in a nar­row mar­gin. Hong Kong’s Hang Seng in­dex was nearly un­changed at 29,154.01, down 0.1 per­cent, and Aus­tralia’s S&P/ASX 200 fell 0.9 per­cent to 5,968.70. South Korea’s Kospi edged down 0.2 per­cent to 2,526.64. The Shang­hai Com­pos­ite in­dex lost 0.5 per­cent to 3,429.55. But shares in Tai­wan and South­east Asia were mostly higher.

EN­ERGY: Bench­mark U.S. crude lost 31 cents to $56.45 per bar­rel in elec­tronic trad­ing on the New York Mer­can­tile Ex­change. It gained 2 cents on Mon­day. Brent crude, used to price in­ter­na­tional oils, slipped 33 cents to $62.83 a bar­rel in Lon­don.

CUR­REN­CIES: The dol­lar rose to 113.60 yen from 113.30 yen on Fri­day, while the euro strength­ened to $1.1742 from $1.1656 on the back of the up­beat eco­nomic growth fig­ures.

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