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 Needs to Boost Infrastructure Spending to Spur Inflation, Abe's Adviser Says

Japan should spend $900 billion on infrastructure projects over the coming years to boost inflation as part of a bold policy mix of fiscal and monetary instruments under a new Bank of Japan governor, a close adviser to Prime Minister Shinzo Abe said in an exclusive interview.

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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.

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.

Fed Nominee Quarles: Bank Stress Tests Need More Transparency

Randal Quarles, Donald Trump's pick to become the Federal Reserve's point person on financial regulation, told lawmakers he would support changes to the central bank's stress tests for big banks.

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."

(END) Dow Jones Newswires

July 28, 2017 01:15 ET (05:15 GMT)