News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Profit-Taking Hits Global Stocks

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Asia-Pacific stock markets were hit by profit-taking Friday, after a strong week in the region and a selloff in U.S. tech stocks overnight.

Chinese Investors Are Fueling Hong Kong's Stock-Market Rally

Mainland investors are gobbling up an increasing share of the Hong Kong stock market, helping to push the Hang Seng Index to its highest level in two years even as markets at home flounder.

Japan Inflation Fails to Gain Momentum in June

Japanese prices rose for the sixth straight month in June but failed to gain momentum, leaving inflation well short of the government's 2% target.

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BOJ Set to Keep Policy Settings on Hold, Summary Shows

The Bank of Japan is likely to keep its current policy framework on hold, as long as momentum toward 2% inflation is maintained, a summary of opinions among the bank's policy setters indicated Friday.

U.K. Consumer Confidence Falls Again

U. K. consumers' mood soured again unexpectedly in July, a survey published Friday showed, with the headline index falling to the level last seen in the immediate aftermath of the Brexit vote as Britons grew uneasy about the country's economic situation.

Commerce Secretary Says Trump's Steel Protection Plan Has Stalled

President Donald Trump's pledge to provide big import protection to U.S. steelmakers has gotten bogged down in "complexity," with no clear deadline for completion, Commerce Secretary Wilbur Ross told Congress.

U.S. Targets Bitcoin Exchange, Alleging It Facilitated Crime

U.S. law-enforcement authorities took aim at one of the world's largest digital-currency exchanges this week in an anti-money-laundering operation that spanned two continents.

Mnuchin: Volcker Rule, 'Too Big to Fail' Set for Changes

The Trump administration is working with bank regulators to roll back postcrisis rules, Treasury Secretary Steven Mnuchin said, namely the Volcker rule and the system of determining which financial firms are considered "too big to fail."

Republicans Outline Tax Plan

Top congressional Republicans and the Trump administration abandoned a controversial House GOP plan to tax imports and exempt exports from taxes, as they announced tax policy principles that resolved few other crucial issues.

Billy Walters Sentenced to Five Years for Insider Trading

William "Billy" Walters, who rose from an impoverished childhood in Kentucky to become one of the most famous sports bettors in America, was sentenced Thursday to five years in prison for masterminding a long-running insider trading scheme.

(END) Dow Jones Newswires

July 27, 2017 23:15 ET (03:15 GMT)