Global shares are mixed after US shares rally into record heights
[July 01, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — Global shares were mixed on Tuesday after
U.S. stocks added to their records with the close of a second straight
winning month. Britain’s FTSE 100 fell 0.2% to 8,742.87, while Germany’s
DAX shed 0.4% to 23,809.62. In Paris, the CAC 40 dropped 0.5% to
7,629.65. The future for the S&P shed 0.2% and that for the Dow Jones
Industrial Average edged 0.1% lower. In Asian trading, Japan’s Nikkei
225 fell 1.2% to 39,986.33 despite positive results of the central
bank's quarterly Tankan survey which showed a better than expected
improvement in business sentiment among large manufacturers.
The Shanghai Composite index added 0.4% to 3,457.75 after China’s
official manufacturing purchasing managers index, or PMI, rose to a
three-month high of 49.7 in June while the PMI for services and other
non-manufacturing businesses also rose to a three-month high of 50.5.
Hong Kong's stock market was closed on Tuesday.
South Korea’s KOSPI Composite Index rose 0.6% to 3,089.65. The
government reported that exports bounced back in June, helped by strong
demand for semiconductors, ships and health products.
“Automobile and automotive parts exports also gained. Strong electric
vehicle exports to the EU and solid used-car exports partially offset
the decline of U.S. exports. However, we expect auto exports to remain
soft due to tariffs and increased production in the U.S.,” Min Joo Kang
of ING Economics said in a report.
Australia's S&P/ASX 200 edged down 0.1% to 8,541.10.
Thailand's SET jumped 1.7% after Thailand’s Constitutional Court has
suspended Prime Minister Paetongtarn Shinawatra from office pending an
investigation over a leaked phone call with a senior Cambodian leader.
The PSEi in Manila, Philippines, added 0.9% to 6,423.85 On Monday, Wall
Street resumed its upward climb.
The S&P 500 rose 0.5%. It has staged a stunning recovery from its
springtime sell-off of roughly 20%. The Dow added 0.6% and the Nasdaq
composite gained 0.5%.
[to top of second column] |
A person walks under the intense sun near an electronic stock board
displaying Japan's Nikkei index at a securities firm Tuesday, July
1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
 Stocks got a boost after Canada said
it would rescind a planned tax on U.S. technology firms and trade
talks with the United States resumed. On Friday, U.S. President
Donald Trump had said he was suspending those talks to retaliate for
the tax, calling it “a direct and blatant attack on our country.”
U.S. stocks have bounced back on hopes that Trump
will reach deals with other countries to lower his painful high
tariffs and avert trade wars that could stifle the economy and send
inflation higher.
Many of Trump’s announced tariffs have been postponed and are due to
kick back into effect on July 9.
The U.S. stock market recovery could raise the risk Trump will
resume escalating tariffs, similar to what happened in 2018-2019,
according to strategists at Deutsche Bank led by Parag Thatte and
Binky Chadha.
On Wall Street, Oracle’s 4% rise was one of the strongest forces
lifting the S&P 500. CEO Safra Catz said the tech giant “is off to a
strong start” in its fiscal year and that it signed multiple large
cloud services agreements, including one that could contribute over
$30 billion in annual revenue two fiscal years from now.
GMS’ stock jumped 11.7% after the supplier of specialty building
products said it agreed to sell itself to a Home Depot subsidiary in
a deal that would pay $110.00 per share in cash. That would give it
a total value of roughly $5.5 billion, including debt.
In other dealings early Tuesday, benchmark U.S. crude oil lost 4
cents to $65.07 per barrel, while Brent crude, the international
standard, fell 7 cents to $66.80 per barrel.
The U.S. dollar dipped to 142.86 Japanese yen from 144.04 yen. The
euro rose to $1.1822 from $1.1787.
All contents © copyright 2025 Associated Press. All rights reserved |
