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World shares make modest gains as euphoria over China-US trade truce wavers
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....orld shares make modest gains as euphoria over China-US trade truce wavers<BR>PTI News<BR>Dated:- 13-5-2025<BR>PTI<BR>Tokyo, May 13 (AP) Shares logged modest gains in most world markets on Tuesday as the initial euphoria over the 90-day truce in the trade war between the United States and China faded. Investors were sobered after Monday's rallies by uncertainties over the longer term, as analyst....
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....s warned President Donald Trump's policies could still change. The future for the S&P 500 slipped 0.4 per cent while that for the Dow Jones Industrial Average fell 0.2 per cent. On Monday, stocks soared on Wall Street after the United States said in a joint statement with China that it will cut tariffs on Chinese goods to 30 per cent from as high as 145 per cent, for 90 days. China, meanwhile,....
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.... said its tariffs on US goods will fall to 10 per cent from 125 per cent. The agreement allows time for more talks following the weekend's negotiations in Geneva, Switzerland, which the US side said yielded “substantial progress.” The outcome surpassed most expectations, reassuring investors, said Stephen Innes of SPI Asset Management. “Make no mistake, this was highly stage-managed dipl....
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....omacy. But the optics are good and the implications real. It signals that even this administration recognises the economic drag of unrelenting tariffs,” he said in a commentary. Still, big challenges remain in the negotiations between Beijing and Washington and many countries have yet to negotiate tariff-alleviating deals of their own. European markets edged higher, with Germany's DAX up 0.1....
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.... per cent at 23,588.06. The CAC 40 in Paris gained 0.2 per cent to 7,863.60, while Britain's FTSE 100 climbed less than 0.1 per cent to 8,609.27. Beijing's anger over the trade war remained apparent. Speaking to officials from China and Latin America on Tuesday, leader Xi Jinping reiterated China's stance that nobody wins a trade war and that “Bullying or hegemonism only leads to self-isolatio....
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....n.” Tokyo's Nikkei 225 jumped 1.4 per cent to 38,183.26. Automakers were among the big gainers after the US dollar surged against the Japanese Yen. Toyota Motor Corp gained 3.5 per cent and Suzuki Motor Corp was 2.4 per cent higher. Nissan Motor Co added 3 per cent ahead of an announcement that it plans to lay off 20,000 of its workers as part of its restructuring efforts. The automaker said....
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.... Tuesday that it racked up a loss of 670.9 billion Yen (USD 4.5 billion) in the last fiscal year. The Kospi in South Korea was nearly unchanged at 2,608.42. Hong Kong's Hang Seng, which gained 3 per cent a day earlier after Chinese and US officials announced the agreement to pause tariffs and reduce them, fell 1.9 per cent to 23,108.27 on heavy selling of technology shares. The Shanghai Comp....
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....osite index edged 0.2 per cent higher to 3,374.87 and Taiwan's Taiex jumped 1 per cent. India's Sensex fell 1.5 per cent. In Australia, the S&P/ASX 200 climbed 0.4 per cent to 8,2769.00. On Monday, the tariffs agreement between the world's two biggest economies propelled the S&P 500 up 3.3 per cent to within 5 per cent of its all-time high set in February. It had fallen nearly 20 per cent be....
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....low that mark but bounced back last month on hopes that President Donald Trump will lower his tariffs after reaching trade deals with other countries. The index at the heart of many 401(k) accounts is back above where it was on April 2, Trump's “Liberation Day,” when he announced stiff worldwide tariffs that ignited worries about a potentially self-inflicted recession. The Dow Jones Indust....
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....rial Average jumped 2.8 per cent and the Nasdaq composite surged 4.3 per cent. Oil prices slipped Tuesday after a rally on Monday. US benchmark crude oil gave up 15 cents to USD 61.80 per barrel. Brent crude, the international standard, shed 18 cents to USD 64.78 per barrel. The US dollar had strengthened Monday against everything from the Euro to the Japanese Yen to the Swiss Franc. By early ....
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....Tuesday, the dollar was trading at 147.93 Japanese Yen, down from 148.47 Yen. But it gained against the Euro, climbing to USD 1.1104 from USD 1.1088. Economic reports scheduled for later this week, including on inflation and sentiment among US consumers, could show how much damage uncertainty over tariffs has caused the economy. (AP) NPK NPK<BR> News - Press release - PIB....