Europe Shares Lower; Japan Posts Gains
Updated from 4:32 a.m. EDT
TOKYO (
) -- Stocks in Japan closed higher by 1.7% in their first trading day this week, despite a report finding that Japan's exports declined 36% in August and imports also contracted sharply. Stocks in Europe were trading lower.
The Nikkei index rose 173 points to close at 10,544.22. Markets in Japan were closed earlier this week for national holidays. Japan's Ministry of Finance said declines in automobile and steel exports were especially pronounced. Exports fell for the 11th straight month to 4.5 trillion yen ($49 billion).
The Shanghai Composite index in China rose 0.4%, while the Kospi in South Korea shed 1%.
The Hang Seng index in Hong Kong closed lower by 2.5%.
Stocks in London fell 0.3%, the DAX in Frankfurt was 0.7% lower and the CAC in Paris declined 0.5%.
Crude oil slipped 69 cents to $68.28 in electronic trading on the New York Mercantile Exchange.
The dollar was at 90.47 yen, down from 91.43 yen, while the euro rose to $1.4779 from $1.4707 on Wednesday.
Premarket futures in the U.S. were mixed Thursday. Stocks in the U.S. declined Wednesday after the
Federal Reserve
said it would keep interest rates near zero and that the pace of economic activity has "picked up" since its last meeting in August.
-- Reported by Joseph Woelfel in New York
.
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