Shares were mostly lower in Asia on Wednesday after US stocks sank to their first loss in eight days, losing momentum after the price of gold topped $4,000 per ounce for the first time.
The price of gold was up $25.40 at $4,029.60 an ounce. US futures and oil prices also advanced.
The Japanese yen fell sharply against the dollar on expectations that Sanae Takaichi, the conservative lawmaker likely to become the next prime minister, will push to keep interest rates low.
The dollar rose to 152.53 yen from 151.90 yen, while the euro slipped to $1.1621 from $1.1659.
Tokyo’s benchmark Nikkei 225 edged 0.1% higher to 48,002.18.
Takaichi, who the ruling Liberal Democrats chose as their leader last weekend, is expected to increase spending and to advocate for easier credit, possibly slowing efforts by the Bank of Japan to raise its key interest rate. It has remained near zero for years, even as inflation has exceeded its target of about 2%, outpacing wage increases.
While the economic c​Shares were mostly lower in Asia on Wednesday after US stocks sank to their first loss in eight days, losing momentum after the price of gold topped $4,000 per ounce for the first time.
The price of gold was up $25.40 at $4,029.60 an ounce. US futures and oil prices also advanced.
The Japanese yen fell sharply against the dollar on expectations that Sanae Takaichi, the conservative lawmaker likely to become the next prime minister, will push to keep interest rates low.
The dollar rose to 152.53 yen from 151.90 yen, while the euro slipped to $1.1621 from $1.1659.
Tokyo’s benchmark Nikkei 225 edged 0.1% higher to 48,002.18.
Takaichi, who the ruling Liberal Democrats chose as their leader last weekend, is expected to increase spending and to advocate for easier credit, possibly slowing efforts by the Bank of Japan to raise its key interest rate. It has remained near zero for years, even as inflation has exceeded its target of about 2%, outpacing wage increases.
While the economic c ​Latest News [ SOBAN NEWS: International and National ]
