Global stocks generally higher after a quiet day on Wall Street

TOKYO (AP) World stocks were mostly higher Wednesday after U.S. stocks remained relatively flat on Wall Street.

Oil prices fell and the yen weakened further against the US dollar.

Germany's DAX rose 0.2% to 18,626.00 and the CAC 40 in Paris jumped 0.6% to 8,122.40. Britain's FTSE 100 index gained 0.4% to 8,347.77.

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Futures contracts for the S&P 500 and Dow Jones Industrial Average were almost unchanged.

In Asian trading, Tokyo's Nikkei 225 lost 1.6% to 38,202.37.

Nintendo Co.'s stock price fell 5.4% after the company's forecast disappointed investors and it said news of a successor product to its popular Switch device would be announced soon. here March 2025.

Sony Corp. lost 5% due to speculation about a possible takeover of Paramount Global by Sony Pictures and private equity firm Apollo Global Management.

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Market participants are waiting to see how authorities will respond to the continued weakness of the yen against the US dollar.

The dollar fell from 154.50 Japanese yen to 155.35 yen. Japanese officials have expressed concern after the value of the yen fell to 160.25 to the dollar in recent days, prompting the Finance Ministry to intervene.

Changes in exchange rates could have a big impact on the economy and prices, so we may need to respond with monetary policy, Kazuo Ueda, governor of the Bank of Japan, told lawmakers on Wednesday.

A weak yen contributes to the profits of Japanese companies that earn much of their revenue overseas, but rate fluctuations can disrupt planning and the weakness of the yen has seriously eroded the purchasing power of households and businesses, driving up the costs of food and energy imports. among others.

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Elsewhere in Asia, Hong Kong's Hang Seng index fell 0.8% to 18,331.76 and the Shanghai Composite index lost 0.6% to 3,128.48.

Australia's S&P/ASX 200 rose 0.1% to 7,804.50, while South Korea's Kospi rose 0.4% to 2,745.05.

Taiwan's Taiex gained 0.2%.

On Tuesday, the S&P 500 edged up 0.1% on a quiet day after three straight jumps for the index of at least 0.9%.

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The Dow Jones Industrial Average added 0.1% and the Nasdaq composite slipped 0.1%.

Markets stabilized after Federal Reserve Chairman Jerome Powell said the central bank remained closer to cutting its main interest rate than raising it, despite a series of indicators. inflation stubbornly high this year. A colder-than-expected jobs report released Friday suggests the U.S. economy may manage to remain strong enough to avoid a serious recession without being so strong that it keeps inflation too high.

In other trading, benchmark U.S. crude oil fell $1.05 to $77.33 a barrel in electronic trading on the New York Mercantile Exchange. It lost 10 cents Tuesday to $78.38 a barrel.

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Brent crude, the international standard, fell 1.05 cents to $82.11 a barrel.

The euro fell to $1.0738 from $1.0755.

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