NEW YORK Dec 12 U.S.-listed shares of foreign
companies edged up on Wednesday, taking their cue from Wall
Street after the Federal Reserve announced a new round of
stimulus, but repeated a warning that monetary policy alone will
not be enough to offset the "fiscal cliff."
Federal Reserve Chairman Ben Bernanke's comments on the set
of tax hikes and spending cuts that are set to go into effect in
the new year without a budget deal weighed on U.S. equities,
undoing the initial boost from the new round of bond purchases.
The BNY Mellon index of leading American depositary receipts
rose 0.3 percent, while the Standard & Poor's 500
ended little changed.
In Japan, shares of exporters rose as speculation a likely
new government would pressure the central bank to take bolder
policy weighed on the yen, benefiting exporters.
U.S.-listed shares of Honda Motor rose 1.6
percent to $33.57, while Canon Inc gained 1.2
percent to $37.66.
Among individual stocks, PetroChina rose
after it said it has bought a minority stake in an Australian
liquefied natural gas project. The stock was up 0.6 percent at
The BNY Mellon index of leading Asian ADRs rose 0.5
The BNY Mellon index of leading European ADRs added
0.3 percent, while the BNY Mellon index of leading Latin
American ADRs edged up 0.2 percent.