Global shares mixed amid vaccine optimism, US tech sell-off

TOKYO (AP) — Global markets were mixed yesterday after a sell-off of shares in technology companies on Wall Street.

France’s CAC 40 edged 0.3 per cent higher in early trading to 5,782.75, while Germany’s DAX was little changed, up less than 0.1 per cent at 13,953.13. Britain’s FTSE 100 gained 0.5 per cent to 6,646.83. United States (US) shares were set for gains, with Dow futures up 0.3 per cent at 31,548. S&P 500 futures rose 0.2 per cent to 3,882.88.

South Korea’s Kospi slipped 0.3 per cent to 3,070.09. Australia’s S&P/ASX 200 gained 0.9 per cent to 6,839.20. Hong Kong’s Hang Seng jumped 1.0 per cent to 30,632.64, while the Shanghai Composite lost 0.2 per cent to 3,636.36.

The technology sell-off spilled into Asia. Chinese cell phone maker Xiaomi fell 3.1 per cent e-commerce giant Alibaba lost 1.2 per cent and Taiwan computer chip maker declined 1.4 per cent.

Although the world’s economies have been battered by the coronavirus pandemic, the deployment of COVID-19 vaccines is raising hopes for a recovery.

“Thankfully, for society at large, there is more optimism than fear today, with vaccines showing scientific results on the ground that validate efficacy and effectiveness over transmission, leading the world back to normality starting soon,” said Axi Chief Global Markets Strategist Stephen Innes.

People wearing face masks walk past a bank’s electronic board showing the Hong Kong share index in Hong Kong. PHOTO: AP