Global stocks lower after Trump offers scant policy details

A man walks past an electronic stock board showing Japan's Nikkei stock index at a securities firm in Tokyo, Thursday, Jan. 12, 2017. Asian shares were mixed Thursday following President-elect Donald Trump's press conference. Trump offered scant details on policies, disappointing investors hoping for a clearer sense of his plans for trade and economic stimulus. (AP Photo/Shuji Kajiyama)
A man walks past an electronic stock board showing Japan's Nikkei stock index at a securities firm in Tokyo, Thursday, Jan. 12, 2017. Asian shares were mixed Thursday following President-elect Donald Trump's press conference. Trump offered scant details on policies, disappointing investors hoping for a clearer sense of his plans for trade and economic stimulus. (AP Photo/Shuji Kajiyama)
A man stands in front of an electronic stock board showing global stock indexes at a securities firm in Tokyo, Thursday, Jan. 12, 2017. Asian shares were mixed Thursday following President-elect Donald Trump's press conference. Trump offered scant details on policies, disappointing investors hoping for a clearer sense of his plans for trade and economic stimulus. (AP Photo/Shuji Kajiyama)
People walk past an electronic stock board showing Japan's Nikkei stock index at a securities firm in Tokyo, Thursday, Jan. 12, 2017. Asian shares were mixed Thursday following President-elect Donald Trump's press conference. Trump offered scant details on policies, disappointing investors hoping for a clearer sense of his plans for trade and economic stimulus. (AP Photo/Shuji Kajiyama)
People pass by an electronic stock board showing Japan's Nikkei stock index at a securities firm in Tokyo, Thursday, Jan. 12, 2017. Asian shares were mixed Thursday following President-elect Donald Trump's press conference. Trump offered scant details on policies, disappointing investors hoping for a clearer sense of his plans for trade and economic stimulus. (AP Photo/Shuji Kajiyama)

KUALA LUMPUR, Malaysia — Global stocks mostly fell Thursday after President-elect Donald Trump offered scant details on policies during his news conference. Investors had been hoping for a clearer sense of his plans for trade and economic stimulus.

KEEPING SCORE: Germany's DAX was down 0.6 percent at 11,582 while France's CAC 40 shed 0.1 percent to 4,882 despite official figures showing eurozone industrial production jumped 1.5 percent in November. Britain's FTSE 100 was flat at to 7,292. U.S. shares were also set to drift lower, with Dow and S&P futures both down 0.2 percent.

TRUMP NEWS: Trump's first news conference in nearly six months provided few details on his plans for infrastructure spending and tax reforms. Trump attacked U.S. intelligence services and big pharmaceutical companies, instead of outlining his platform.

THE QUOTE: "It is what he didn't mention - fiscal stimulus — that worries market participants. The U.S. dollar rally was based on the assumption that Trump's administration will push through a massive infrastructure building and fiscal stimulus package, which will lead to higher inflation in the future," said Margaret Yang Yan, a market analyst with CMC Markets in Singapore. "The slump in the U.S. dollar index last night indicated that assumption is now unwinding because the president-elect never even mentioned that key word 'stimulus'."

DRUG MAKERS: Health care stocks fell after Trump said new bidding procedures are needed to stem rises in drug costs. Takeda Pharmaceutical fell 2.6 percent, Eisai Co. fell 3.3 percent and Chugai Pharmaceutical dropped 3.4 percent.

ASIA'S DAY: Japan's benchmark Nikkei 225 dropped 1.2 percent to 19,134.70 as the U.S. dollar fell back against the yen, potentially hurting exporters' earnings. Hong Kong's Hang Seng dipped 0.5 percent to 22,829.02, and the Shanghai Composite edged down 0.6 percent to 3,119.29. Australia's S&P/ASX 200 slipped 0.1 percent to 5,766.90. South Korea's Kospi bucked the trend to rise 0.6 percent at 2,087.14. Shares in Southeast Asia were mostly lower.

ENERGY: Benchmark crude oil rebounded from early losses to rise 86 cents to $53.11 a barrel. It rose $1.43 in New York on Wednesday. Brent crude, which is used to price oil sold internationally, rose $1.02 to $56.13.

CURRENCIES: The dollar fell to 114.31 yen from 115.43 yen on Wednesday. The euro rose to $1.0656 from $1.0576.

You may also interested in

Qatar's leader urges end to trade embargo, calls...

Oct 18, 2017

Qatar's emir has urged neighboring states to lift an "unfair" 4-month-old trade embargo and said...

Hundreds leave Papua villages in separatist...

Nov 20, 2017

Indonesian police say hundreds more people have left villages in easternmost Papua that were at the...

Borneo's orangutan population plunged by 100,000...

Feb 15, 2018

The most comprehensive study of Borneo's orangutans estimates their numbers have plummeted by more...

Rain hampers search for Indonesian landslide...

Feb 23, 2018

Heavy rains are hampering the search for victims of a landslide on the Indonesian island of Java as...

Oil spill fire chokes Indonesian port city; 4 dead

Apr 4, 2018

An official says waters off an Indonesian port city reek like a gas station after an oil spill and...

About Us

Pioneered by experienced entrepreneurs, bankers and software engineers, BursaKL stand tall to bring you the latest state of business and finance from Malaysia and all over the world.

Contact us: sales[at]bursakl.com