MANILA, Philippines — Global shares are mostly lower Tuesday a day after U.S. stocks continued a stunning recovery from a springtime sell-off of roughly 20%.
Britain’s FTSE 100 gained 0.72% to 8,798.91, while Germany’s DAX shed 0.4% to 23,809.62. In Paris, the CAC 40 dropped 0.5% to 7,629.65.
After another big day for U.S. markets, futures for the S&P shed 0.2% and that for the Dow Jones Industrial Average edged 0.1% lower.
In Asian trading, Japan’s Nikkei 225 fell 1.2% to 39,986.33 despite positive results of the central bank’s quarterly Tankan survey which showed a better than expected improvement in business sentiment among large manufacturers.
The Shanghai Composite index added 0.4% to 3,457.75 after China’s official manufacturing purchasing managers index, or PMI, rose to a three-month high of 49.7 in June while the PMI for services and other non-manufacturing businesses also rose to a three-month high of 50.5.
Hong Kong’s stock market was closed on Tuesday.
South Korea’s KOSPI Composite Index rose 0.6% to 3,089.65. The government reported that exports bounced back in June, helped by strong demand for semiconductors, ships and health products.
“Automobile and automotive parts exports also gained. Strong electric vehicle exports to the EU and solid used-car exports partially offset the decline of U.S. exports. However, we expect auto exports to remain soft due to tariffs and increased production in the U.S.,” Min Joo Kang of ING Economics said in a report.
Australia’s S&P/ASX 200 edged down 0.1% to 8,541.10.
Thailand’s SET jumped 1.7% after Thailand’s Constitutional Court has suspended Prime Minister Paetongtarn Shinawatra from office pending an investigation over a leaked phone call with a senior Cambodian leader.
The PSEi in Manila, Philippines, added 0.9% to 6,423.85 O