World shares are mostly higher as Trump's new tariffs approach
[July 09, 2025] By
TERESA CEROJANO
World shares mostly climbed on Wednesday, following a choppy trading day
on Wall Street as the Trump administration seeks to win more favorable
trade deals with nations around the globe.
In early trading, major indexes in Europe were all higher. Germany's DAX
added 0.7% to 24,373.05. Britain's FTSE 100 edged 0.1% higher to
8,861.90. France's CAC 40 rose 0.8% to 7,829.04.
The futures for the S&P 500 and the Dow Jones Industrial Average were
both 0.1% higher.
In Asia, Japan's Nikkei 225 closed 0.3% higher to 39,821.28, while South
Korea's Kospi added 0.6% to 3,133.74 as Tokyo and Seoul work on a trade
deal with the U.S. before higher tariffs announced by Washington take
effect on Aug. 1.
“Sectoral carve-outs remain the thorniest terrain," Stephen Innes of SPI
Asset Management wrote in a commentary, adding that Korea and Japan are
likely seeking relief for their car and steel exports. "But Washington
is unlikely to bend,” he warned.
Meanwhile, Chinese markets were lower. Hong Kong's Hang Seng index fell
1.1% to 23,892.32, while the Shanghai Composite index edged down 0.1% to
3,493.05.
Lynn Song, ING's chief economist for greater China, said in a commentary
that deflationary pressures remain despite China's June consumer price
index inflation returning to positive territory for the first time since
January, beating market expectations. Inflation rose to 0.1% year on
year from -0% year on year in May, according to data released on
Wednesday.
Australia’s S&P/ASX 200 slipped 0.6% to 8,538.60. India's BSE Sensex
edged 0.1% higher to 83,722.05.
Mizuho Bank said the tariff deadlines distract from "far more
consequential, and expedient, sectoral tariffs, which arguably
reverberate across global industrial eco-systems” and that the U.S. aims
to isolate China from trade partners, supply chains and markets.
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A currency trader watches monitors near a screen showing the Korea
Composite Stock Price Index (KOSPI), top center left, and the
foreign exchange rate between U.S. dollar and South Korean won, top
center, at the foreign exchange dealing room of the Hana Bank
headquarters in Seoul, South Korea, Wednesday, July 9, 2025. (AP
Photo/Ahn Young-joon)
 “The real danger is underestimating
the fallout when (rather than if) China hits back" against the U.S.
and countries it perceives as aligned with the U.S., the bank wrote.
On Wall Street on Tuesday, the S&P 500 slipped 0.1% a day after
posting its biggest loss since mid-June. The benchmark index remains
near its all-time high set last week.
The Dow Jones Industrial Average gave back 0.4%. The Nasdaq
composite eked out a gain of less than 0.1%, staying near its own
record high.
The sluggish trading came as the market was coming off a broad
sell-off following the Trump administration’s decision to impose new
import tariffs on more than a dozen nations, which are set to go
into effect next month.
In other dealings on Wednesday, benchmark U.S. crude gained 51 cents
to $68.84 per barrel, while Brent crude, the international standard,
addwd 49 cents to $70.64 per barrel.
The dollar was trading at 146.62 Japanese yen, up from 146.54 yen.
The euro edged lower to $1.1716 from $1.1729.
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AP Business Writer Alex Veiga contributed.
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