Stocks World Markets

Europe Shares Rise After Drop In Asia, Fall On Wall Street

May 30, 2019

TOKYO (AP) — European shares were mostly higher in early trading Thursday after a drop in Asia that followed another round of selling on Wall Street, set off by investor worries about a trade war.

France’s CAC 40 added 0.4% in early trading to 5,242.66, while Germany’s DAX rose nearly 0.6% to 11,902.87. Britain’s FTSE 100 edged up 0.2% to 7,201.12. U.S. shares were set to drift higher with Dow futures up 0.3% at 25,187. S&P 500 futures were also higher, adding 0.4% to 2,791.40.

Japan’s benchmark Nikkei 225 dropped 0.3% to finish at 20,942.53. Australia’s S&P/ASX 200 slipped 0.7% to 6,392.10. South Korea’s Kospi edged up 0.8% to 2,038.80. Hong Kong’s Hang Seng was down 0.3% at 27,149.04, while the Shanghai Composite lost 0.3% to 2,905.81.

Investors have been worried that the trade war between the U.S. and China will derail global economic and corporate profit growth as it drags on with no sign of a resolution.

“The cracks in global equity markets threatened to grow wider still as relentless haven-buying of sovereign bonds overnight pushed key yields even lower and sent recession fears through stocks,” said Jeffrey Halley, senior market analyst at Oanda.

“Asia is unlikely to feel much relief today either with both the Nikkei 225 and the ASX 200 down.”

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