Global shares exhibited a mixed performance on Tuesday at the outset of a second day of trade talks between Chinese and US officials.
France`s CAC 40 jumped 1.1% in early trading to 7,887.57, while the German DAX rose 1.0% to 24,191.38. Britain`s FTSE 100 added 0.3% to 24,191.38. The future for the S&P 500 was up 0.2%. The future for the Dow Jones Industrial Average edged 0.1% higher.
Japan`s benchmark Nikkei 225 fell 0.8% to 40,674.55 on broad selling of major companies, including automakers and big banks. Toyota Motor Corp dipped 2.3% and Honda Motor Co fell 2.1%. Sumitomo Mitsui Financial Group finished 1.8% lower, while Mitsubishi UFJ Financial Group stock dipped 1.6%.
Hong Kong`s Hang Seng dropped 0.2% to 25,524.45, while the Shanghai Composite gained 0.3% to 3,609.71.
Analysts noted that investors were closely watching for the latest developments from US President Donald Trump and US trade talks with China in Stockholm. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting in the Swedish capital.
“Aside from addressing economic imbalances, tariffs are also now well entrenched in the geo-political arena,” commented Tan Boon Heng of the Asia & Oceania Treasury Department at Mizuho Bank.
Australia`s S&P/ASX 200 edged 0.1% higher to 8,704.60.
South Korea`s Kospi gained 0.7% to 3,230.57. Samsung Electronics edged 0.3% higher after jumping nearly 7% on Monday following news that it signed a deal with Tesla to provide computer chips for its electric vehicles.
This week is anticipated to bring a flurry of potentially market-moving data releases, corporate earnings, and an interest rate decision by the Federal Reserve.
The widespread expectation on Wall Street is that Fed officials will wait until September to resume cutting interest rates, though a couple of Trump`s appointees could dissent in the vote. The Fed has maintained interest rates this year since cutting them several times at the end of 2024.
On Monday, the S&P 500 was nearly flat, edging up by less than 0.1% to 6,389.77 and setting an all-time high for a sixth consecutive day. The Dow dipped 0.1% to 44,837.56, while the Nasdaq composite added 0.3% to its own record, closing at 21,178.58.
Hundreds of US companies are scheduled to report their profits for the spring quarter, with nearly a third of the businesses in the S&P 500 index due to deliver updates. Companies are broadly under pressure to deliver solid growth in profits following significant jumps in their stock prices over the last few months. Much of the gain was attributed to hopes that Trump would walk back some of his stiff proposed tariffs, and critics suggest the US stock market appears expensive unless companies produce larger profits.
In energy trading, benchmark US crude jumped 50 cents to $67.21 a barrel. Brent crude, the international standard, gained 47 cents to $69.79 a barrel.
In currency trading, the US dollar fell to 148.53 Japanese yen from 148.56 yen. The euro cost $1.1567, down from $1.1589.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever