Global shares largely rose on Tuesday, reflecting a rebound in the Tokyo benchmark after last week’s sharp decline. The markets showed signs of recovery, with several key indices in Europe and Asia making modest gains.
Germany’s DAX rose 0.3% to 17,778.44 in early trading, while France’s CAC 40 gained roughly 0.2% to 7,263.55. But the FTSE 100 in Britain experienced a minor decline, dropping 0.1% to 8,201.62. Futures pointed to a bullish start in the US, with the Dow up 0.3% at 39,593.00 and the S&P 500 up 0.4% at 5,391.75.
Asian markets also posted encouraging results, led by Japan’s Nikkei 225, which surged 3.5% to close at 36,232.51. Australia’s S&P/ASX 200 saw a modest increase of nearly 0.2%, finishing at 7,826.80. South Korea’s Kospi rose by 0.1% to 2,621.50, while Hong Kong’s Hang Seng climbed 0.4% to 17,174.06. The Shanghai Composite added 0.3%, closing at 2,867.95.
Notably, technology stocks drove the rally in Tokyo, with computer chip manufacturers in high demand. Tokyo Electron experienced a significant jump of 6.2%, mirroring the positive trends seen in technology shares on Wall Street.
The markets were further buoyed by the stabilization of the yen, which had experienced significant volatility in recent weeks. While a weaker yen benefits major Japanese exporters like Toyota Motor Corp. by enhancing the value of foreign earnings, it also raises concerns about the erosion of purchasing power within Japan. The U.S. dollar rose to 147.74 yen, up from 147.17, while the euro traded at $1.0925, down from $1.0935.
Last week, Japanese stocks faced their most severe drop since the infamous Black Monday crash of 1987. However, comments from a senior Bank of Japan official emphasizing the need for stability appeared to calm market nerves.
Investors remain cautious amid global uncertainties, including ongoing tensions in Ukraine and the Middle East, as well as concerns surrounding China’s economic situation. These factors contribute to the volatility that has characterized recent market movements.
As markets adjust to the shifting economic landscape, investors will be closely monitoring developments both domestically and internationally to gauge the potential impact on future trading.
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