Global shares are mostly higher after US stocks rise to the brink of a
record
[June 27, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — Global shares were mostly higher on Friday as
the week was winding down with the Israel-Iran ceasefire still in place
and signs of progress on a China-U.S. trade deal.
Investors were watching for further details after President Donald Trump
said the U.S. and China had signed a trade deal. Commerce Secretary
Howard Lutnick said in an interview on Bloomberg TV that the deal was
signed two days ago, but did not elaborate, saying “The president likes
to close these deals himself.”
China’s Commerce Ministry said Friday that the two sides had “further
confirmed the details of the framework” for their trade talks. But its
statement did not explicit mention an agreement to ensure U.S. access to
rare earths, materials used in high-tech applications that have been at
the center of negotiations.
“China will approve the export applications of controlled items that
meet the conditions in accordance with the law. The United States will
cancel a series of restrictive measures taken against China accordingly.
It is hoped that the United States and China will meet each other
halfway,” the ministry said in a statement. In early European trading,
Germany’s DAX added 0.8% to 23,847.16. In Paris, the CAC 40 surged 1.3%
to 7,656.55. Britain’s FTSE 100 gained 0.5% to 8,779.78.
The futures for the S&P 500 and the Dow Jones Industrial Average were up
0.2%.
Markets have settled somewhat after the upheavals of the Israel-Iran war
and its aftermath.
Worries about Trump’s higher tariffs have receded since the president
shocked the world in April with stiff proposed levies, but they have not
disappeared. The wait is still on to see how big the tariffs will
ultimately be, how much they will hurt the economy and how much they
will push up inflation.
Hong Kong’s Hang Seng index lost 0.2% to 24,284.15, while the Shanghai
Composite index gave up 0.7% to 3,424.23 after China reported that
industrial profits slid 9.1% in May, the sharpest drop since last
October.
“Beijing may have paused the worst of the trade fight with Washington,
but the tariff scars are showing—and unless demand picks up or pricing
stabilizes, the pressure on margins and business sentiment will linger,”
Stephen Innes, Managing Partner at SPI Asset Management, said in a
commentary.
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A dealer walks past near screens showing the Korea Composite Stock
Price Index (KOSPI), left, and the foreign exchange rate between
U.S. dollar and South Korean won at a dealing room of Hana Bank in
Seoul, South Korea, Friday, June 27, 2025. (AP Photo/Lee Jin-man)
 Tokyo’s Nikkei 225 index gained 1.4%
to 40,150.79, as the government reported that consumer prices eased
slightly in May.
South Korea’s KOSPI Composite Index fell 0.8% to 3,055.94, while
Australia’s S&P/ASX 200 shed 0.4% at 8,514.20.
On Thursday, the S&P 500 climbed 0.8% and at 6,141.02 was sitting
just 0.05% below its all-time closing high set in February. The
index at the heart of many 401(k) accounts had dropped roughly 20%
below its record during the spring on worries about Trump’s tariffs.
The Dow Jones Industrial Average rallied 0.9% and the Nasdaq
composite gained 1%.
Reports on Thursday added to evidence the U.S. economy is holding up
despite higher tariffs and other challenges, though it has slowed.
Orders for washing machines and other manufactured goods that last
at least three years grew by more last month than economists
expected. Another report said fewer U.S. workers filed for
unemployment benefits last week, a potential signal of fewer
layoffs.
A third report said the U.S. economy shrank by more during the first
three months of 2025 than earlier estimated. But many economists say
those numbers were distorted by a surge in imports as companies
tried to get ahead of tariffs. They’re expecting a better
performance in upcoming months.
In other dealings on Friday, the U.S. benchmark crude gained 46
cents to $65.70 per barrel. Brent crude, the international standard,
added 41 cents to $67.10 per barrel.
The U.S. dollar fell to 144.37 Japanese yen from 144.40 yen. The
euro edged higher to $1.1710 from $1.1703.
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