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Home / Business / Global shares receive the most after US tariff rises

Global shares receive the most after US tariff rises



TOKYO (AP) – Global stocks were mainly higher on Friday in volatile trading, with mainland Chinese stocks bouncing over 3% as regulators apparently stepped in to support the markets.

France's CAC 40 received 1.0% early trading to 5,363.43, while Germany's DAX added 1.0% to 12,098.30. The UK's FTSE 100 rose 0.6% to 7,251.13. US stocks were set to open lower with Dow futures, which dropped 0.2% to 25.764.00. The future contract for S & P 500 fell 0.3% to 2,863.90.

The Shanghai Composite Index increased by 3.1% to 2.939.21, while the A-share index in the smaller market in Shenzhen jumped 3.8%. Traders said that Chinese institutional investors withdrew to support the market.

China's Trade Department said it would take unspecified "necessary countermeasures" after the Trump administration increased duties of $ 200 billion of Chinese imports to 25% from 10%. The action came as trade negotiations are ongoing in Washington.

Chinese markets are dipped first and then rebuilt.

"Part of this miraculous – and very local – recovery may be due to the intervention of the Chinese government. Still, investors are still clinging to the hope that the United States and China will eventually agree on some kind of agreement," Rabobank said in a comment.

Hong Kong's Hang Seng was 0.8% to 28.550.24, while Japan's Nikkei 225 finally fell 0.3% at 21.344.92, Australia's S & P / ASX 200 rose almost 0.3% to 6.310, 90. South Korea's Kospi increased by 0.3% to 2,108.04, and India's Sensex was 0.3% higher to 37,681.09. Stocks fell in Taiwan but recovered in Thailand.

Analysts said China could increase Tariffs on US exports, although the amount would not match the cost due to the increase in US import taxes, may interfere with disruptions in US companies' agreements and other areas.

They increased tensions if they were not resolved soon by an agreement between Beijing and Washington, could hurt growth across the region and beyond, said Rajiv Biswas of HIS Markit.

"The growing trade war between the US and China contributes to significant existing heads who are already facing the Asia-Pacific region from a number of factors, including the sharp decline in global electronic new orders and weak new orders in the euro area production," Biswas said. .

ENERGY: Benchmark US crude increased 34 cents to $ 62.04 per barrel in electronic commerce on the New York Mercantile Exchange. It fell 0.7% to settle at $ 61.70 a barrel overnight. Brent crude, the international standard, added 41 cents to $ 70.80 a barrel.

CURRENCY: The dollar raised up to 109.83 Japanese yen from 109.77 yen. The euro strengthened to $ 1,1233 from $ 1,1216.

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