AP – European shares fell yesterday after a mixed trading session in Asia, as mainland Chinese markets extended their losses for the first week of the new year.
Germany’s DAX shed 0.3 per cent to 19,967.34 and the CAC 40 in Paris lost 0.7 per cent to 7,345.59. Britain’s FTSE 100 edged 0.1 per cent lower, to 8,256.98.
The future for the S&P 500 rose 0.4 per cent and that for the Dow Jones Industrial Average was 0.3 per cent higher.
Japan’s market was closed for the New Year holiday. The dollar remained steady, trading at JPY157.24, down from JPY157.51. In early December, it had been hovering around yen.
Hong Kong stocks rallied from Thursday’s slump, with the Hang Seng surging 0.7 per cent to 19,760.27. But shares in Shanghai and the smaller market in Shenzhen sank, reflecting worries that United States (US) President-elect Donald Trump might raise tariffs on imports from China and other Asian countries after he takes office later this month. The Shanghai Composite index dropped 1.6 per cent to 3,211.43. Shenzhen’s benchmark dropped 2.7 per cent.
South Korea’s Kospi jumped 1.8 per cent to 2,441.92, with the giant SK Hynix Inc up 6.4 per cent and Samsung Electronics Co. gaining 1.7 per cent after the acting president.
Australia’s S&P/ASX 200 climbed 0.6 per cent to 8,250.50.
On Thursday, the S&P 500 fell 0.2 per cent, extending the four-day losing streak that dimmed the close of its stellar 2024. The index pinballed through the day between an early gain of 0.9 per cent and a later loss of 0.9 per cent before locking in its longest losing streak since April.
The Dow Jones Industrial Average fell 0.4 per cent and the Nasdaq composite lost 0.2 per cent.
Tesla helped drag the market lower after disclosing it delivered fewer vehicles in the last three months of 2024 than analysts expected. The electric-vehicle company’s stock slumped 6.1 per cent.
In energy trading, benchmark US crude declined 35 cents to USD72.78 per barrel. Brent crude, the international standard, gave up 36 cents to USD75.57 a barrel.
