Global shares advance after Trump eases some tariffs, hints at break for autos
Global benchmarks mostly rose Tuesday, echoing a rally on Wall Street after President Donald Trump appeared to let up on some of his tariffs and as stress from within the U.S. bond market seemed to be easing.
Still, the Trump administration took further steps toward imposing more tariffs, saying it was investigating the national security implications of imports of pharmaceuticals, computer chips and related products.
France's CAC 40 added 0.6% to 7,316.09, while Germany's DAX jumped 1.5% to 21,277.44. Britain's FTSE 100 rose 1.0% to 8,215.51.
The future for the S&P 500 was up 0.3% while that for the Dow Jones Industrial Average gained 0.2%.
In Asian trading, Japan's benchmark Nikkei 225 surged 0.8% to finish at 34,267.54.
Automakers were among the biggest gainers, although their early surge was moderated by closing time. Toyota Motor Corp. jumped 3.7%, while Honda Motor Co. gained 3.6%. Electronics and entertainment giant Sony Corp.'s stock price added 2.2%.
Australia's S&P/ASX 200 added 0.2% to 7,761.70 and South Korea's Kospi gained 0.9% to 2,477.41.
Chinese shares wobbled, with Hong Kong's Hang Seng rising 0.2% to 21,466.27 after fluctuating much of the day. The Shanghai Composite added 0.2% to 3,267.66.
"You know the drill: one step forward, two steps back, then a whiplash pivot into carrot-and-stick diplomacy. It's becoming the signature of this White House — deliver a policy gut punch, then soften the blow with selective reprieves or 90-day pauses. It's market management by whack-a-mole," said Stephen Innes, managing partner at SPI Asset Management.
On Monday on Wall Street, the S&P 500 rose 0.8% and the Dow rose 0.8%. The Nasdaq climbed 0.6%. Apple and other technology stocks helped to lift the market.
Trump said he was exempting smartphones, computers and other electronics from some of his stiff tariffs, which could ultimately more than double prices for U.S. customers of products coming from China. Automakers also rallied after Trump suggested he may announce pauses on tariffs next for the auto industry.
Trump's tariffs rollout has been full of fits and starts, and he and officials in his administration have said the exemption on electronics is only temporary.
In energy trading, benchmark U.S. crude fell 2 cents to $61.51 a barrel. Brent crude, the international standard, was down 3 cents to $64.85 a barrel.
The U.S. dollar fell to 142.75 Japanese yen from 143.04 yen. The euro was unchanged at $1.1351.
Source: Associated Press
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