TOKYO (AP) — Global shares mostly fell Tuesday, despite a rally on Wall Street in stocks seen as benefiting the most from Donald Trump’s reelection as U.S. president.
France's CAC 40 declined 0.9% in early trading to 7,358.92, while Germany's DAX fell 0.8% to 19,296.75. Britain's FTSE 100 shed 0.7% to 8,066.66. U.S. shares were set to drift higher with Dow futures slipping nearly 0.1% to 44,412.00. S&P 500 futures fell less than 0.1% to 6,028.25.
Japan's benchmark Nikkei 225 reversed early gains to decline 0.4% and finish at 39,376.09, weighed down by uncertainty about how Trump's policies, including tariffs, may affect local industries.
Australia's S&P/ASX 200 lost 0.1% to 8,255.60. South Korea's Kospi declined 1.9% to 2,482.57.
Chinese tech stocks have been declining lately, while investors also have their eyes on upcoming earnings reports out of China.
Hong Kong’s Hang Seng dropped 2.8% to 19,846.88, the first time the index fell below 20,000 points since China announced a stimulus package in September. The Shanghai Composite lost 1.4% to 3,421.97.
Several pieces of what’s known as the “Trump trade” has helped drive the market, as investors try to identify which companies will be winners under a second Trump term.
Stocks of companies more focused on the U.S. economy were also rising because they’re seen as benefiting more from Trump’s America First policies than big multinational companies.
In energy trading, benchmark U.S. crude rose 17 cents to $68.21 a barrel. Brent crude, the international standard, gained 20 cents to $72.03 a barrel.
In currency trading, the U.S. dollar edged up to 153.91 Japanese yen from 153.72 yen. The euro cost $1.0630, down from $1.0660.
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AP Business Writer Stan Choe in New York contributed to this report.
