Global benchmarks are mixed in cautious trading after US stocks edge back from record
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TOKYO (AP) — Global markets were mixed in cautious trading Wednesday, although interest in computer chips and artificial intelligence continued to support some global shares.
France’s CAC 40 gained 0.5% in early trading to 7,868.62, while the German DAX edged up 0.4% to 25,368.18. Britain’s FTSE 100 added 0.2% to 10,672.28. U.S. shares were set to drift higher with Dow futures up 0.3% to 52,081.00. S&P 500 futures rose 0.2% to 7,872.75.
In Asia, Japan’s benchmark Nikkei 225 declined less than 0.1% to finish at 67,744.29. Australia’s S&P/ASX 200 declined 0.6% to 8,727.90. South Korea’s Kospi, which has undergone some volatile trading lately, fell 0.4% to 6,008.81. Hong Kong’s Hang Seng shed 0.1% to 24,314.17, while the Shanghai Composite dipped nearly 0.9% to 3,767.23.
Global markets have been struck with various worries about high inflation, increased pressure from the bond market and conflicts in the Middle East. Worries have been high for a while about whether chip stock prices have shot too high in the frenzy around AI technology.
China’s memory chipmaker CXMT, which is making advances that could challenge industry heavyweights, rose in early Wednesday trading in Asia, but then fell back. In South Korea, Samsung Electronics Co. stocks also initially rose but fell flat. SK Hynix slipped.
In energy trading, benchmark U.S. crude rose 0.05% to $94.19 a barrel. Brent crude, the international standard, edged down 0.09% to $105.60 a barrel.
In currency trading, the U.S. dollar rose to 158.40 Japanese yen from 158.32. The euro was unchanged at $1.1203.
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Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama