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AP
  • Updated

Asian stock markets are mixed after China promised to speed up policy changes to boost anemic economic growth and Australia's central bank raised its benchmark interest rate. Shanghai, Tokyo and Seoul gained while Hong Kong declined. U.S. markets were closed for a holiday. The Chinese Cabinet’s planning agency promised to accelerate easier lending and other policies but announced no new spending. Australia's central bank raised its main interest rate to its highest level since 2015 and said more rate hikes are planned. European markets sank following the announcement that a suspension of Russian gas supplies through the Nord Stream 1 pipeline would be extended indefinitely.

AP
  • Updated

Global stock markets are lower after Europe faced a new squeeze on gas supplies. London and Frankfurt opened lower Monday. Tokyo, Hong Kong and South Korea also fell while Shanghai gained. Oil prices rose more than $2 per barrel while the euro edged lower. European markets were roiled by Russian energy giant Gazprom's announcement that a suspension of gas supplies through the Nord Stream 1 pipeline would be extended indefinitely. That adds to shortages in Germany and other economies. Traders also worry U.S. government data that showed wages rose sharply in August might be seen by the Federal Reserve might see that as evidence more interest rate hikes are needed to bring down inflation.