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World Shares Track Wall Street Gains 01/27 04:45
World shares were mostly higher Tuesday after U.S. stock indexes ticked
upward, buoyed by strong profit reports for some companies.
(AP) -- World shares were mostly higher Tuesday after U.S. stock indexes
ticked upward, buoyed by strong profit reports for some companies.
In Germany, the DAX slipped 0.2% to 24,892.75, while the CAC 40 in Paris was
unchanged at 8,129.45. Britain's FTSE 100 picked up 0.2% to 10,171.02.
The future for the S&P 500 gained 0.2% while that for the Dow Jones
Industrial Average was 0.1% lower.
In Asian trading, Tokyo's Nikkei 225 rose 0.9% to 53,333.54.
India's Sensex edged 0.1% lower after Prime Minister Narendra Modi said the
country had reached agreement on a free trade deal with the European Union.
The accord, which touches a whopping 2 billion people, was concluded after
nearly two decades of negotiations. It's one of the biggest bilateral
engagements on commerce. The timing comes as Washington targets both India and
the EU with steep import tariffs.
The Kospi in South Korea surged 2.7% to 5,084.85, even after U.S. President
Donald Trump said he would raise tariffs on South Korean goods because the
country's national assembly has yet to approve a trade framework announced last
year.
South Korea's presidential office responded after a meeting of top officials
that it will convey its commitment to implementing last year's deal to the U.S.
The presidential office said that South Korea's Industry Minister Kim
Jung-Kwan will travel to the U.S. for talks with Secretary of Commerce Howard
Lutnick, while Trade Minister Yeo Han-koo will travel separately to meet with
Trade Representative Jamieson Greer. Kim was on a visit to Canada.
Trump said on social media Monday that import taxes would be raised on
autos, lumber and pharmaceutical drugs from South Korea with the rate on other
goods going from 15% to 25%.
Gains for Korean tech-related shares like Samsung Electronics, which rose
4.9% and chip maker SK Hynix, which soared 8.7%, helped offset losses for
automakers. Kia Corp. fell 1.1% and Hyundai Motor Co. lost 0.8%.
Chinese markets were mixed. Hong Kong's Hang Seng advanced 1.3% to 27,106.83
and the Shanghai Composite index added 0.2% to 4,139.90. But the benchmark for
the smaller market in Shenzhen dropped 0.1%.
Taiwan's Taiex was up 0.8%.
Financial markets could face more swings this week.
The Federal Reserve will announce its stance on interest rates on Wednesday,
when it is expected to hold steady. It's been lowering its main interest rate
and has indicated more cuts may be on the way in 2026 to help shore up the job
market and give the economy a boost.
Inflation remains stubbornly above the Fed's 2% target and lower rates could
worsen it.
Several of Wall Street's most influential stocks are also set to deliver
earnings reports. That includes Meta Platforms, Microsoft and Tesla on
Wednesday and Apple on Thursday.
On Monday, the S&P 500 rose 0.5% and the Dow added 0.6%. The Nasdaq
composite gained 0.4%.
In other dealings early Tuesday, the price of gold was little changed at
$5,080 per ounce. On Monday, it rallied 2.1% and briefly topped $5,100 per
ounce for the first time. Silver lost 3%.
Prices for precious metals have been soaring as investors look for safer
places to park their money amid threats of tariffs, still-high inflation,
political strife and mountains of debt for governments worldwide.
The dollar rose to 154.62 Japanese yen from 154.20 yen, while the euro
slipped to $1.1869 from $1.1881.
U.S. benchmark crude oil gave up 28 cents to $60.35 per barrel. Brent crude,
the international standard, shed 33 cents to $64.44 per barrel.
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