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World Stocks Mixed Thursday            04/27 06:31

   World stock indexes were mixed Thursday as investors assessed the scant 
details of President Donald Trump's U.S. tax overhaul. Japan's central bank 
kept its monetary policy unchanged and forecasted steady growth for Asia's No. 
2 economy.

   HONG KONG (AP) -- World stock indexes were mixed Thursday as investors 
assessed the scant details of President Donald Trump's U.S. tax overhaul. 
Japan's central bank kept its monetary policy unchanged and forecasted steady 
growth for Asia's No. 2 economy.

   KEEPING SCORE: European shares fell in early trading. France's CAC 40 lost 
0.4 percent to 5,266.82, Germany's DAX dipped 0.3 percent to 12,436.58, and 
Britain's FTSE 100 shed 0.5 percent to 7,249.97. U.S. shares were poised to 
open slightly higher. Dow futures rose less than 0.1 percent to 20,922.00 and 
broader S&P 500 futures were up a fifth of a percent at 2,382.60.

   TRUMP ON TAX: The White House unveiled broad outlines of Trump's tax plan, 
omitting many details. Officials said they hoped to slash corporate taxes to 15 
percent from 35 percent, but specifics are still to be negotiated. Shares have 
risen on hopes for big tax cuts and less red tape. Based on the few specifics 
spelled out so far, most experts suggested the plan would add little to growth 
while swelling the budget deficit and potentially handing large windfalls to 
wealthier taxpayers.

   QUOTEWORTHY: "Trump's big tax reforms and tax reductions on Wednesday proved 
to be not so big, at least from Wall Street's perspective," said Hussein Sayed, 
chief market strategist at FXTM. "The lack of details contained on Trump's 
single piece of paper was perceived as a publicity stunt for the president as 
he celebrates his first 100 days in the Oval Office, and unfortunately, seemed 
more of a wish list than a serious starting point."

   JAPAN OUTLOOK: The central bank forecast growth in the world's third-largest 
economy would remain steady over the next year as it keeps its ultra-lax 
monetary policy unchanged. The Bank of Japan said preparations for the Tokyo 
2020 Olympics would support growth by spurring demand but warned of risks from 
geopolitical trends.

   SOUTH KOREAN GROWTH: A recovery in exports helped the South Korean economy 
expand at the fastest pace in a year, the country's central bank said. Asia's 
No. 4 economy beat forecasts by growing 2.7 percent in the first quarter, 
defying a backlash from Chinese consumers over deployment of a U.S. missile 
defense system.

   SAMSUNG IN THE MONEY: The South Korean electronics giant posted its fattest 
quarterly profits in more than three years, boosted by stellar performance at 
its semiconductor division. The first-quarter earnings, which come after a 
tough period for the company, leaped 46 percent over the year-ago period.

   TAKATA SHARES RESUME TRADING: Shares in troubled airbag and seatbelt maker 
Takata Corp. fell 19.5 percent after a temporary trading halt. A company 
statement said restructuring talks are in progress but no decisions have been 
made, following a report in the financial newspaper Nikkei that Takata was 
planning to file for bankruptcy protection.

   ASIA'S DAY: Japan's benchmark Nikkei 225 index lost 0.2 percent to finish at 
19,251.87 while South Korea's Kospi gained 0.1 percent to 2,209.46. Hong Kong's 
Hang Seng rose 0.5 percent to 24,598.48 and the Shanghai Composite index 
climbed 0.4 percent to 3,152.19. Australia's S&P/ASX 200 edged up 0.2 percent 
to 5,921.50. Taiwan's benchmark rose but those in Southeast Asia mostly fell.

   ENERGY: Benchmark U.S. crude oil fell 63 cents to $48.99 a barrel in 
electronic trading on the New York Mercantile Exchange. The contract rose 6 
cents to settle at $49.62 a barrel on Wednesday. Brent crude, which is used to 
price international oils, fell 59 cents to $51.82.

   CURRENCIES: The euro rose to $1.0908 from $1.0905 while the dollar rose to 
111.33 yen from 111.07 yen late Wednesday.


(KA)

 
 
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