Tokyo stocks open higher

Tokyo, April 28 (IANS) Tokyo shares opened higher on Thursday as the US stocks rose overnight after the US central bank signalled it would not raise interest rates in the near future and as oil prices went up.

The 225-issue Nikkei Stock Average rose 230.84 points, or 1.34 percent, from Wednesday to 17,521.33, Xinhua news agency reported.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 16.12 points, or 1.16 percent, to 1,400.42.

Gainers were led by mining, chemicals as well as oil and coal product issues.

Chinese yuan weakens

Beijing, April 28 (IANS) The central parity rate of the Chinese currency renminbi, or the yuan, weakened 117 basis points to 6.4954 against the US dollar on Thursday, according to the China Foreign Exchange Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua news agency reported.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

US stocks end mixed amid Fed statement

New York, April 28 (IANS) US stocks closed mixed as Wall Street assessed the Federal Reserve’s decision to leave interest rates unchanged and weak earnings report from tech-giant Apple.

The Dow Jones Industrial Average rose 51.23 points on Wednesday, or 0.28 percent, to 18,041.55. The S&P 500 added 3.45 points, or 0.16 percent, to 2,095.15, Xinhua news agency reported.

The Nasdaq Composite Index lost 25.14 points, or 0.51 percent, to 4,863.14.

The US central bank announced on Wednesday that it will maintain the target range for the federal funds rate at 0.25-0.5 percent, but gave little clue on the timing of its next rate hike.

The US labor market conditions “have improved further” even as growth in economic activity “appears to have slowed”, the Fed said in a statement after wrapping up a two-day policy meeting, noting that it will continue to “closely monitor” inflation indicators and global economic and financial developments.

The Fed currently expects that the US economy will expand “at a moderate pace” and the labor market indicators will “continue to strengthen,” according to the statement.

In corporate news, after Tuesday’s closing bell, Apple announced financial results for its fiscal 2016 second quarter ended March 26, 2016, which showed the first year-over-year slump of both quarterly revenue and profit since 2003 and the first ever drop in iPhone sales.

The tech giant’s shares plummeted 6.26 percent to $97.82 apiece on Wednesday.

On the economic front, the US international trade deficit in goods and services decreased to $56.9 billion in March from February’s reading of $62.9 billion, according to the Commerce Department on Wednesday.

Canadian stocks advance on higher oil prices

Toronto, April 28 (IANS) Canada’s main stock market in Toronto continued to rise as upward crude oil prices supported resources sectors, while financial stocks also got a boost after the US Federal Reserve kept interest rates unchanged.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index gained 78.22 points, or 0.57 percent, to close at 13,887.66 points on Wednesday, Xinhua news agency reported.

Six of the TSX index’s eight main sub-sectors were higher.

Oil prices jumped on Wednesday as the Federal Reserve announced that it will maintain the target range for the federal funds rate at 0.25-0.5 percent, but gave little clue on the timing of its next rate hike.

The Canadian dollar traded slightly higher at $0.7925, compared with Tuesday’s closing rate of $0.7923.

US dollar slips on Fed statement

New York, April 28 (IANS) The US dollar declined against most major peers on Wednesday as investors were digesting the newly-released Federal Reserve statement.

In late New York trading on Wednesday, the euro rose to $1.1321 from $1.1289 in the previous session, and the British pound increased to $1.4553 from $1.4579 in the previous session, Xinhua news agency reported.

The Australian dollar inched down to $0.7597 from $0.7740.

The US dollar bought 111.52 Japanese yen, higher than 111.33 yen of the previous session. The U. dollar fell to 0.9715 Swiss franc from 0.9742 Swiss franc, and it fell to 1.2606 Canadian dollars from 1.2621 Canadian dollars. Enditem

The Fed left the benchmark interest rate unchanged this time but signalled a possible rate-hike in its June meeting, according to the statement released on Wednesday after a two-day monetary policy meeting.

The US central bank also downplayed recent weakness in the country’s economy, saying “labor market conditions have improved further even as growth in economic activity appears to have slowed.”

The uncertainty of rate-hike outlook still weighed on the greenback on Wednesday. The dollar index, which measures the greenback against six major peers, was down 0.13 percent at 94.453 in late trading.

British FTSE 100 rises

London, April 28 (IANS) FTSE 100 Index, British benchmark stock market gauge rose by 0.56 percent, or 35.39 points, to 6,319.91 points.

Share price of Anglo American increased by 4.45 percent, topping the gainers of the blue chips on Wednesday, Xinhua news agency reported.

Worldpay, International Consolidated Airlines Group, easyJet and Centrica increased by 4. 30 percent, 3.64 percent, 3.56 percent, 3.40 percent respectively.

Tesco led the top losers of the blue chips with a share price drop of 4.39 percent, followed by Prudential (1.74 percent), Legal & General Group (1.41 percent), Sky (1.40 percent) and Standard Chartered (1.12 percent).

Spanish stock market rises

Madrid, April 28 (IANS) The Spanish stock market index Ibex-35 rose 0.53 percent to close at 9,332.60 points, up from the 9,283 points of the previous session.

On Wednesday’s session, IAG shares led rises climbing 3.37 percent, followed by Repsol, AENA, Banco Santander, Acciona and Endesa that rose 2.33 percent, 1.70 percent, 1.57 percent, 1.33 percent and 1.26 percent respectively, Xinhua news agency reported.

On the other hand, Bankia shares led falls losing 3.38 percent, followed by Mapfre, Banco Popular, Banco Sabadell, Acerinox and Tecnicas Reunidas that lost 2.65 percent, 2.60 percent, 2.48 percent, 1.81 percent and 1.56 percent respectively.

Meanwhile, Spain’s risk premium closed at 134.30 points and Spain’s 10-year bond interest rate closed at 1.6 percent, both showing no big differences when compared with Tuesday.

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