World shares mixed on NKorea launch, Fed meeting next week
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HONG KONG — World stocks were mixed Friday as investors shrugged off North Korea's latest missile launch but remained wary of risk ahead of next week's Fed meeting, which could provide fresh hints on interest rate policy.
KEEPING SCORE: European shares were uneven in early trading. Britain's FTSE 100 shed 0.4
MISSILE TENSIONS: North Korea launched an intermediate-range missile that flew 3,700
TRADER TALK: "Another day, another missile from North Korea," said Rob Carnell, ING's head of Asia research. "It would be wrong to say that markets are not taking any notice, but the relatively muted responses of the Japanese yen and Korean won, and risk assets globally, suggest that a sense of fatigue on this belligerence is creeping in."
FED WATCH: Investors were also digesting the first of a batch of U.S. economic data as they await the Fed's next move on interest rates. Data released Thursday showed U.S. consumer prices rose in August at their fastest pace in seven months, a possible sign inflation is picking up pace. Industrial production and retail sales figures are due Friday, which could provide more hints on whether the Fed, which holds a scheduled two-day meeting wrapping up Wednesday, will remain on track to raise rates by the end of the year.
ASIA'S DAY: Japan's benchmark Nikkei 225 index added 0.5
ENERGY: Oil fell from a seven-week high. Benchmark U.S. crude futures slipped 46 cents to $49.43 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 59 cents, or 1.2
CURRENCIES: The dollar slumped against the yen immediately after news of the launch but recovered quickly and rose to 110.67 yen, the highest level since mid-August. The euro strengthened to $1.1924 from $1.1919.