People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, March 20, 2018. Asian shares slumped Tuesday as pessimism followed an overnight drop in New York amid a rout in technology companies. (AP Photo/Eugene Hoshiko)

Global shares mixed ahead of Federal Reserve meeting

March 20, 2018 - 5:09 am

TOKYO (AP) — Global shares were mixed Tuesday as some indexes recouped earlier losses set off by an overnight decline on Wall Street. Investors are awaiting the first Federal Reserve meeting under the new chairman, Jerome Powell, and anticipating the first rate increase of the year.

KEEPING SCORE: France's CAC 40 gained nearly 0.2 percent in early trading to 5,230.79, while Germany's DAX added 0.1 percent to 12,232.74. Britain's FTSE 100 was 0.3 percent higher at 7,062.34. U.S. shares were set to drift lower with Dow futures down 0.1 percent at 24,657. S&P 500 futures were flat at 2,723.20.

ASIA'S DAY: Japan's benchmark Nikkei 225 lost 0.5 percent to finish at 21,380.97. Australia's S&P/ASX 200 slipped 0.4 percent to 5,936.40, while South Korea's Kospi edged up 0.4 percent to 2,485.52. Hong Kong's Hang Seng inched up 0.1 percent to 31,549.93, while the Shanghai Composite rose 0.4 percent higher to 3,290.64.

FACEBOOK DROP: Facebook's worst loss in four years set off a rout in technology shares Monday. The social media giant's plunge followed reports that Cambridge Analytica, a data mining firm working for President Donald Trump's campaign, improperly obtained data on 50 million Facebook users without their permission.

FEDERAL RESERVE: The U.S. Federal Reserve's first meeting under Jerome Powell's leadership ends later this week, likely with an announcement that the Fed will resume modest interest rate hikes. A healthy U.S. job market has added to confidence the economy can withstand further increases.

ENERGY: Benchmark U.S. crude rose 66 cents to $62.79 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 49 cents to $62.54 per barrel in London.

CURRENCIES: The dollar recovered to 106.41 yen from 105.92 late Monday. The euro rose to $1.2337 from $1.2267.


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