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Global shares are mixed amid cautious
relief over U.S.-China agreement
[May 14, 2025]
By YURI KAGEYAMA
TOKYO (AP)
— Global shares were mostly higher Wednesday as a cautious sense of
relief spread through regional markets after the U.S. and China agreed
to a 90-day pause in their trade war.
France's CAC 40 slipped 0.5% in early trading to 7,835.89, while
Germany's DAX inched down 0.1% to 23,593.92. Britain's FTSE 100 edged
0.1% lower to 8,596.66. |
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 KEB Hana Bank headquarters in
Seoul, South Korea, Wednesday, May 14, 2025. (AP Photo/Ahn Young-joon) |
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The
future for the Dow futures was up 0.1%, while that for the S&P
500 rose less than 0.1%.
In Asian trading, Chinese markets rallied on expectations of
another rush in export orders during the 90-day grace period for
China-U.S. tariffs.
Hong Kong’s Hang Seng jumped 2.3% to 23,640.65, while the
Shanghai Composite gained 0.9% to 3,403.95.
Chinese tech companies made big gains, with games and
entertainment giant Tencent Holdings up 3%, search engine
company Baidu up 4% and e-commerce giant Alibaba Group Holdings
advancing 3.4%.
Japan's benchmark Nikkei 225 lost 0.1% to finish at 38,128.13.
Australia's S&P/ASX 200 rose 0.1% to 8,279.60.
South Korea's Kospi surged 1.2% to 2,640.57.
The relief over the trade truce between the U.S. and China is
tepid among global businesses and investors given uncertainty
over how long it might last and where tariffs might go in the
months ahead.
A report overnight that showed U.S. inflation unexpectedly
slowed last month helped drive buying on Wall Street, where the
S&P 500 climbed 0.7%. The Dow Jones Industrial Average fell 0.6%
and the Nasdaq composite rose 1.6%.
The hope is that President Donald Trump will ease his stiff
tariffs on trading partners worldwide before they create a
recession and send inflation spiking higher.
In energy trading early Wednesday, benchmark U.S. crude fell 33
cents to $63.34 a barrel. Brent crude, the international
standard, declined 34 cents to $66.29 a barrel.
In currency trading, the U.S. dollar edged down to 146.40
Japanese yen from 147.21 yen. The euro cost $1.1251, up from
$1.1188.
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