Global Shares Up as China Exports Rise 04/13 05:35
Global shares were mostly higher on Tuesday with hopes growing for a global
economic rebound despite surging coronavirus cases in many places.
TOKYO (AP) -- Global shares were mostly higher on Tuesday with hopes growing
for a global economic rebound despite surging coronavirus cases in many places.
France's CAC 40 gained 0.3% in early trading to 6,181.52, while Germany's
DAX edged up 0.2% to 15,251.55. Britain's FTSE 100 fell less than 0.1% to
6,885.07. U.S. shares were set for a slow start, with the future for the Dow
industrials up 0.1% at 33,656.0. S&P 500 futures also inched up less than 0.1%,
China reported its exports rose nearly 31% in March, in line with
expectations but weaker than the 60% growth seen in the first two months of the
The rising trade activity reflects higher demand in overseas markets even as
some countries restore precautions to counter rising numbers of new infections.
Japan's benchmark Nikkei 225 gained 0.7% to finish at 29,751.61. South
Korea's Kospi gained 1.1% to 3,169.08. Australia's S&P/ASX 200 inched up less
than 0.1% to 6,976.90. Hong Kong's Hang Seng rose 0.2% to 28,497.25, while the
Shanghai Composite slipped 0.5% to 3,396.47.
Robert Carnell, Regional Head of Research Asia-Pacific at ING, expects
trading in the region to be tentative as investors await data that will help
assess the recovery from pandemic damage.
Apart from the Chinese trade data, "Asian markets, like others, will be on
tenterhooks pending the release of important March U.S. inflation figures later
today," he said in a report.
Earnings season is approaching and corporate results may indicate the
direction of future growth as nations gradually emerge from the damage set off
by the pandemic.
JPMorgan Chase and Wells Fargo report on Wednesday, while Bank of America
and Citigroup report on Thursday.
Worries remain about recent surges in COVID-19 cases, including Brazil and
Michigan state in the U.S. Earlier this week, Japan, which trails the world in
the vaccine rollout, called for government-backed measures to curb the recent
surge in the sickness in some areas.
In Thailand, authorities are warning of a potential explosion in cases after
many new infections were found among people who frequent clubs and other
In energy trading, benchmark U.S. crude added 15 cents to $59.85 a barrel in
electronic trading on the New York Mercantile Exchange. It gained 38 cents on
Monday to $50.70 per barrel. Brent crude, the international standard, gained 23
cents to $63.51 a barrel.
In currency trading, the U.S. dollar inched down to 109.36 Japanese yen from
109.40 yen late Monday. The euro slipped to $1.1902 from $1.1911.