World shares are mixed after Wall Street pulls near its all-time high
[December 04, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — World shares were mixed on Thursday, after
U.S. stocks rose to near their records as investors focused on hopes the
Federal Reserve will cut interest rates at its meeting next week.
The future for the S&P 500 was nearly unchanged but that for the Dow
Jones Industrial Average was slightly higher.
In early European trading, Germany's DAX rose 0.7% to 23,863.46.
Britain's FTSE 100 was down 0.1% 9,684.71, while France's CAC-40 added
0.3% to 8,110.58.
Japan's Nikkei 225 index climbed 2.3% to 51,028.42, nearing its all-time
high, on expectations that the U.S. Federal Reserve will cut its main
interest rate next week, even while traders speculate over whether the
Bank of Japan will raise interest rates this month.
Technology and telecoms giant SoftBank Group Corp.'s shares jumped 9.2%
after the company's founder reaffirmed the company's strategic shift to
focus on OpenAI and other investments in artificial intelligence.
SoftBank's shares are still down nearly 28% from a month ago, when it
announced it had sold its stake in chip maker Nvidia for $5.8 billion to
be able to invest more in AI.
The Japanese government's 10-year bond yield rose above 1.9%, it's
highest since 2007.
Hong Kong's Hang Seng index reversed early trading losses, adding 0.7%
to 25,935.90, led by gains for tech and consumer stocks. The Shanghai
Composite index shed 0.1% to 3,875.79.
South Korea's Kospi fell 0.2% to 4,028.51, with weakness in tech and
automotive stocks weighing on the benchmark.
Australia's S&P/ASX 200 index recovered from a slump earlier in the day,
adding 0.3% to 8,618.40.
Taiwan's Taiex index and India's BSE Sensex were nearly unchanged.
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A person walks in front of an electronic stock board showing Japan's
Nikkei index at a securities firm Thursday, Dec. 4, 2025, in Tokyo.
(AP Photo/Eugene Hoshiko)
 On Wednesday, U.S. stocks rose to
near their record levels as mixed data on the economy kept alive
hopes for a cut to interest rates.
The S&P 500 gained 0.3% and pulled within 0.6% of its all-time high
set in late October. The Dow Jones Industrial Average climbed 0.9%
and the Nasdaq composite added 0.2%.
Stocks broadly got a lift from easing Treasury yields in the bond
market. Yields fell after a report suggested U.S. employers outside
of the government may have cut more jobs in November than they
added.
While the surprisingly weak report from ADP may be discouraging for
people looking for jobs, it also bolstered expectations that the
Federal Reserve will cut its main interest rate next week. If the
Fed does, that would be the third cut of the year in hopes of
helping the slowing job market.
A separate report Wednesday on activity for the U.S. services sector
was more encouraging. It said growth was stronger last month than
expected for businesses in the retail, finance, insurance and other
industries.
The Institute for Supply Management’s survey also said that prices
were increasing at their slowest rate since April. That’s important
because the main argument against cutting interest rates is that it
could worsen inflation.
In other dealings early Thursday, U.S. benchmark crude oil added 20
cents to $59.15 per barrel. Brent crude, the international standard,
gained 12 cents to $62.79 per barrel.
The U.S. dollar fell to 154.88 Japanese yen from 155.25 yen. The
euro edged up to $1.1678 from $1.1672.
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