Singapore, Oct 9 (AP) - European and Asian markets are mixed after the International Monetary Fund lowered its outlook for the world economy, citing the impact of rising interest rates and trade tensions.
KEEPING SCORE: Germany's DAX lost 0.1 percent to 11,930.66 while the CAC 40 in France added 0.1 percent 5,306.00 on Tuesday. Britain's FTSE 100 was less than 0.1 percent higher at 7,235.58. Wall Street was set for a pessimistic open. Dow futures lost 0.2 percent to 26,481.00. The broader S&P 500 futures shed 0.3 percent to 2,885.50.
ASIA'S DAY: Japan's benchmark Nikkei 225 fell 1.3 percent to 23,469.39. Hong Kong's Hang Seng fell 0.1 percent to 26,172.91. The Shanghai Composite index recovered its losses by 0.2 percent to 2,721.01, after tumbling 3.7 percent on Monday. Australia's S&P/ASX 200 gave up 1.0 percent to 6,041.10. Stocks rose in Taiwan, Thailand and Indonesia but fell in Singapore. Markets in South Korea were closed for a national holiday.
IMF DOWNGRADE: The International Monetary Fund has revised its outlook for the global economy, citing rising interest rates and growing tensions over trade. It said the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was forecasting for 2018 in July. The report comes on the eve of the Oct. 12-14 meetings in Bali, Indonesia, of the IMF and its sister lending organization, the World Bank. IMF believes that the Chinese economy will grow by 6.6 percent this year as previously forecasted. But the fund lowered China's economic outlook for 2019 to 6.2 percent, which would be the country's slowest growth since 1990.
U.S.-CHINA TALKS: On Monday, U.S. Secretary of State Mike Pompeo said that Washington had a "fundamental disagreement" and "great concerns" about Chinese actions, before a meeting with Chinese Foreign Minister Wang Yi and another senior official in Beijing on Monday. Pompeo said that he was looking forward to discussions, but his polite, edgy tone shone a spotlight on deteriorating U.S.-China relations. The Trump administration has confronted China on its technology policies and territorial claims in the South China Sea, and the countries have raised tariffs on tens of billions of dollars of each other's goods.
ANALYST'S TAKE: The IMF report "should in no way surprise" as the fund's managing director Christine Lagarde warned that trade disputes were weighing on global growth last week, said Chris Weston of Pepperstone Group Limited. "However, this is the first time any recognized body has been prepared to officially recognize the trade tensions and mark down their forecasts and that is a message in itself," he added.
ENERGY: Benchmark U.S. crude added 40 cents to $74.69 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 0.1 percent to settle at $74.29 per barrel in New York. Brent crude, used to price international oils, rose 62 cents to $84.53 per barrel. It dropped 0.3 percent to $83.91 per barrel in London.
CURRENCIES: The dollar slipped to 113.18 yen from 113.21 yen on Monday. The euro fell to $1.1475 from $1.1489.
Indonesia says death toll in Sulawesi quake rises to 2,010
Jakarta, Oct 9 (AP) - Indonesia's disaster agency says the death toll from the Sulawesi island earthquake and tsunami has climbed past 2,000.
Agency spokesman Sutopo Purwo Nugroho said Tuesday the toll had climbed to 2,010.
Nugroho also said the search for thousands of victims feared buried in mud and rubble in the three hardest-hit neighborhoods of Palu city will be halted Thursday, nearly two weeks after the Sept. 28 disaster.
He said authorities will hold prayers to mark the end of the search in the Petobo, Balaroa and Jono Oge areas, where the quake caused loose soil to liquefy, swallowing houses and burying the occupants with them.
Nugroho said efforts to retrieve bodies won't continue because of the difficult terrain and advanced state of decomposition that made the bodies unrecognizable and could cause contamination.