Global shares mostly decline after AI stocks lead a rebound on Wall Street
TOKYO (AP) — Global shares were mostly lower in cautious trading Tuesday after artificial-intelligence -related stocks bounced back on Wall Street while other sectors continued to be shaky and oil prices stayed high.
France's CAC 40 dipped 0.4% in early trading to 7,836.70, while the German DAX shed 0.7% to 25,134.29. Britain's FTSE 100 lost 0.6% to 10,703.98.
U.S. shares were set to drift higher with Dow futures up 0.3% at 52,332.00. S&P 500 futures gained less than 0.1% to 7,735.25.
In Asia, Japan's benchmark Nikkei 225 declined 1.3% to finish 64,075.42. Australia's S&P/ASX 200 lost 0.3% to 8,816.90. South Korea's Kospi dropped 3.7% to 5,552.74, as the frenzy over AI-related issues resulted in a decline. Hong Kong's Hang Seng fell 1.3% to 23,867.74, while the Shanghai Composite edged up 0.1% to 3,735.37.
Analysts say investors are also waiting for the upcoming slew of earnings reports from various major companies.
In energy trading, benchmark U.S. crude jumped 2.13% to $105.87 a barrel. Brent crude, the international standard, gained 1.10% to $110.75 a barrel. Uncertainty about when the war with Iran will allow the energy industry to return to normal means oil prices are unlikely to ease any time soon.
In currency trading, the U.S. dollar inched down to 158.16 Japanese yen from 158.46 yen. The euro cost $1.1235, up from $1.1227.
___
Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
© Copyright The Associated Press. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of The Associated Press.
