A woman walks by an electronic stock board of a securities firm in Tokyo, Friday, June 29, 2018. Asian shares were mixed and trading in a narrow range Friday as investors weighed how trade tensions between the U.S. and other nations might escalate. (AP Photo/Koji Sasahara)

Global shares mostly higher despite trade uncertainty

June 29, 2018 - 4:26 am

TOKYO (AP) — Global shares were mostly higher Friday as investors weighed how trade tensions between the U.S. and other nations might escalate.

KEEPING SCORE: France's CAC 40 gained 1.4 percent to 5,348.59 in early trading. Germany's DAX was up 1.5 percent at 12,348.90. Britain's FTSE 100 rose 1.1 percent to 7,696.88. U.S. shares were set to drift higher with Dow futures gaining 0.7 percent to 24,382. S&P 500 futures were also up, adding 0.6 percent to 2,735.10

ASIA'S DAY: Japan's benchmark Nikkei 225 edged nearly 0.2 percent higher to finish at 22,304.51, while Australia's S&P/ASX 200 fell 0.3 percent to 6,194.60. South Korea's Kospi advanced 0.5 percent to 2,326.13. Hong Kong's Hang Seng added 1.6 percent to 28,942.56, while the Shanghai Composite index rose 2.2 percent to 2,847.42.

WALL STREET: The S&P 500 index added 0.6 percent to 2,716.31. The Dow Jones industrial average rose 0.4 percent to 24,216.05 and the Nasdaq composite gained 0.8 percent to 7,503.68. The Russell 2000 index of smaller-company stocks picked up 0.3 percent to 1,645.02.

TRADE WORRIES: U.S. President Donald Trump's threat of tariff hikes on up to $450 billion of Chinese products reflects fears Beijing's plans are a threat to American technological leadership and prosperity. That has triggered global worries about how the curtailing of free trade might hurt economies and industrial sectors, but markets are still unsure of what the impact might be.

THE QUOTE: "Risk sentiment has firmed noticeably on the dearth of new headlines surrounding trade tensions," said Chang Wei Liang at Mizuho Bank in Singapore.

ENERGY: Benchmark U.S. crude fell 18 cents to $73.27. It gained 0.9 percent to $73.45 a barrel in New York overnight. Brent crude, used to price international oils, rose 20 cents to $77.81 a barrel.

CURRENCIES: The dollar rose to 110.63 yen from 110.50 yen late Thursday. The euro climbed to $1.1627 from $1.1567.


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