Global shares advance, while most Asian markets are closed for the Lunar New Year
News > Business News
Audio By Carbonatix
8:16 PM on Monday, February 16
By YURI KAGEYAMA
TOKYO (AP) — European shares advanced Tuesday after a quiet day in Asia, where most markets were closed for Lunar New Year holidays.
France's CAC 40 inched up 0.1% to 8,318.51, while Germany's DAX gained 0.2% to 24,845.47. Britain's FTSE 100 picked up 0.4% to 10,481.00.
The future for the S&P 500 was down 0.3% while that for the Dow Jones Industrial Average edged 0.1% lower.
Weak economic data for Japan appeared to be clouding sentiment in Tokyo, and a 5.1% decline for tech giant SoftBank Group also pulled shares lower. The decline follows a big rally after a resounding win for Prime Minister Sanae Takaichi’s ruling party in a Feb. 8 general election.
The Nikkei 225 slipped 0.4% to finish at 56,566.49.
Traders likely were locking in profits from the recent gains that took the Nikkei to record levels. Polls show Takaichi's popularity is slowly slipping, as hopes for economic revival from her plans to increase government spending and cut taxes subside.
In Australia, the S&P/ASX 200 gained 0.2% to 8,958.90, while India's Sensex edged 0.2% higher. In Thailand, the SET added 1.4%.
Trading in the U.S. was closed for Presidents Day on Monday.
On Friday, the S&P 500 edged up less than 0.1% a day after one of its worst losses since Thanksgiving. The Dow Jones Industrial Average rose 0.1%, and the Nasdaq composite slipped 0.2%.
Share prices have been waxing and waning with fluctuations in confidence over massive investments in AI. Investors are also focused on inflation and how price pressures might affect interest rates. Also in the spotlight for later in the day are jobs data from Britain.
In other dealings early Tuesday, benchmark U.S. crude rose 26 cents to $63.15 a barrel. Brent crude, the international standard, lost 65 cents to $68.00 a barrel.
The U.S. dollar slipped to 152.90 Japanese yen from 153.51 yen. The euro cost $1.1850 down from $1.1852.
The price of gold fell 2% and silver was down 4.4%. Bitcoin fell 01.3% to about $68,000.
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Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
