Global stocks mixed, investors cautious of US-China tension

Global stocks mixed, investors cautious of US-China tension


Global stock markets were mixed Thursday amid concern over the trade tensions between the U.S. and China. Uncertainty remains, but the original tariff threats made earlier in the week were not followed through.

KEEPING SCORE: Frances CAC 40 was almost unchanged at percent at 5,372.70 in early trading. Britain’s FTSE 100 rose by 0.3 percent to 7,652.80, but Germany’s DAX shed 0.3 percent to 12,679.00. U.S. shares were set to drift higher with Dow futures edging up less than 0.1 percent to 24671 and S&P 500 futures up 0.1 percent to 2775.6.

ASIA’S DAY: Japan’s benchmark Nikkei 225 index finished up 0.6 percent at 22,693.04, and Australia’s S&P/ASX 200 climbed 1.0 percent to 6,232.10. South Korea’s Kospi dropped 1.0 percent to 2,339.95. Hong Kong’s Hang Seng and the Shanghai Composite also fell, Hong Kong by 1.4 percent to 29,296.05 and Shanghai by 1.4 percent to 2,875.81.

TRADE TENSIONS: Markets have been on edge with the U.S. and China announcing tariffs on each other’s imports and threatening more. After a global drop on Tuesday, markets rebounded Wednesday and remain stable as the sting of President Donald Trump’s tariff threats fade.

ANALYST’S TAKE: “Uncertainties surrounding how things are moving on Trump’s trade deal, not only with China but also with other economies, are still out there,” said Margaret Yang Yan of CMC Markets. “We need to see constructive move in trade negotiations between Washington and Beijing so that market confidence can be restored.”

ENERGY: U.S. crude lost 50 cents to $65.21 a barrel and Brent crude, the international standard for oil prices, lost 86 cents to $73.88 a barrel in London.

CURRENCY: The dollar rose to 110.58 yen from 110.02 yen late Wednesday. The euro dropped to $1.1560 from $1.1572.

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Follow Nicola Shannon on Twitter at https://twitter.com/nicolavshannon

Her work can be found at https://www.apnews.com/search/Nicola%20Shannon





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