Stock market today: World shares are mixed, with China benchmarks higher despite tariff talk
World shares are mixed with Chinese stocks leading gains after U.S. stocks rose to records despite President-elect Donald Trump’s latest talk about tariffs
BANGKOK — World shares were mixed Wednesday, with Chinese stocks leading gains after U.S. stocks rose to records despite President-elect Donald Trump’s latest talk about tariffs.
Germany's DAX lost 0.5% to 19,196.97 while the CAC 40 in Paris shed 1.2% to 7,109.24. Britain's FTSE 100 edged 0.1% higher, to 8,267.96.
The future for the S&P 500 was 0.1% lower while that for the Dow Jones Industrial Average was nearly unchanged.
In Asian trading, Tokyo’s Nikkei index fell 0.8% to 38,134.97 as the Japanese yen surged in value against the U.S. dollar. The dollar fell to 151.42 yen from 153.08 yen. It had traded above 155 yen recently, but uncertainty over the future course of U.S. trade policy has led investors to buy yen as a safe haven, analysts said.
Sharp tariff hikes that Trump said he would impose on imports of goods from Canada, Mexico and China could roil the global economy if they take effect. His comments Monday provoked vehement responses from all three major U.S. trading partners.
“Investors, already jittery, are keenly aware of the ripple effects such protracted disputes could have, particularly on the Chinese and European economies that are bracing for Trump’s tariff onslaught,” Stephen Innes of SPI Asset Management said in a commentary.
Chinese markets advanced, led by strong buying of technology shares. Hong Kong’s Hang Seng gained 2.3% to 19,603.13, while the Shanghai Composite index added 1.5% to 3,309.78. Analysts said investors were buying in anticipation of more economic stimulus measures from a top level annual economic meeting next month.
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