Global stocks turn sluggish
image for illustrative purpose
Tokyo: Global shares retreated on Tuesday, even as most US stock indexes finished higher, especially technology issues like Nvidia. France’s CAC 40 lost 0.7 per cent in early trading to 8,137.16, while Germany’s DAX declined 0.3 per cent to 18,704.35. Britain’s FTSE 100 fell nearly 0.4 per cent to 8,393.84. The future for the Dow Jones Industrial Average inched down less than 0.1 per cent and the S&P-500 future was virtually unchanged.
In Asian trading, Japan’s benchmark Nikkei 225 fell 0.3 per cent to 38,946.93. Australia’s S&P/ASX 200 lost 0.2 per cent to 7,851.70. South Korea’s Kospi fell 0.7 per cent to 2,724.18. Hong Kong’s Hang Seng dove 2.1 per cent to 19,220.62, while the Shanghai Composite shed 0.4 per cent to 3,157.97. In Asia, investors are focused on signs about the health of Chinese economy. S&P Global Market Intelligence raised this year’s growth forecast to 4.8 per cent from 4.7 per cent in April, but stressed it was not overly optimistic. “The overall outlook of a tepid economic recovery remains unchanged, with the expansion supported by enhanced policy stimulus, strengthening external demand and gradually improving private-sector confidence,” it said in a report.
