TOKYO — Global shares traded mostly higher Tuesday after Wall Street set new records and investor anticipation grew that the U.S. Federal Reserve will announce the first cut of the year to its main interest rate.
France’s CAC 40 edged up nearly 0.1% to 7,891.76 in early trading, while the German DAX fell 0.2% to 23,690.86. Britain’s FTSE 100 dipped 0.1% to 9,267.31. U.S. shares were set to drift higher with Dow futures inching up less than 0.1% to 46,277.00. S&P 500 futures rose 0.2% to 6,694.00.
In Asia, Japan’s benchmark Nikkei 225 came off a holiday to momentarily reach above 45,000 points a few times during the session, finishing at a record 44,902.27, up 0.3% from the previous close and the fourth straight session of record closes.
The rally comes despite ongoing political uncertainty in Japan after Prime Minister Shigeru Ishiba said he is stepping down. An election within the ruling Liberal Democratic Party to pick a new leader is expected Oct. 4. Candidates include Shinjiro Koizumi, the farm minister and son of former Prime Minister Junichiro Koizumi. Another is Sanae Takaichi, who could become Japan’s first woman prime minister.
It’s not clear if the chosen ruling party chief can become the nation’s leader, as the party does not have a majority in Parliament and must forge a coalition with smaller parties.
Australia’s S&P/ASX 200 edged up 0.3% to 8,877.7