Global shares mostly fell on Tuesday, despite a rally on Wall Street in stocks perceived to benefit from the potential reelection of Donald Trump as U.S. president. In early trading, France's CAC 40 declined 0.9% to 7,358.92, Germany's DAX fell 0.8% to 19,296.75, and Britain's FTSE 100 shed 0.7% to 8,066.66. U.S. shares were poised to drift higher, with Dow futures slipping nearly 0.1% to 44,412.00 and S&P 500 futures falling less than 0.1% to 6,028.25.
Japan's benchmark Nikkei 225 reversed early gains to decline 0.4% and close at 39,376.09, amid uncertainty about the potential impact of Trump's policies, including tariffs, on local industries. Australia's S&P/ASX 200 lost 0.1% to 8,255.60, while South Korea's Kospi declined 1.9% to 2,482.57.
Chinese tech stocks have been on a downward trend recently, with investors also monitoring upcoming earnings reports from China. Hong Kong’s Hang Seng dropped 2.8% to 19,846.88, marking 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.
The market has been influenced by the so-called “Trump trade,” as investors seek to identify companies that could thrive under a second Trump term. Stocks of firms more focused on the U.S. economy have been rising, as they are perceived to benefit more from Trump’s America First policies compared to large multinational corporations.
In energy trading, benchmark U.S. crude rose 17 cents to $68.21 a barrel, while 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, and the euro cost $1.0630, down from $1.0660.
