Stock markets mostly rise on US optimism / Photo: © AFP
Stock markets mostly rise on US optimism
European and Asian stock markets mostly rose Tuesday following another tech rally on Wall Street.
Traders also assessed tariff plans of incoming US president Donald Trump following a report he may take a more targeted approach than previous stated.
"After a sluggish December, US stocks have kicked off the year in style, with tech and semiconductors stealing the spotlight," noted Matt Britzman, senior equity analyst at Hargreaves Lansdown.
He added there was also "tariff optimism despite mixed signals".
The Washington Post said Trump's aides were weighing plans to apply tariffs to goods only in certain critical sectors -- a narrower definition than the president-elect previously proposed.
Trump, however, described the Post story as "just another example of Fake News".
The report comes after Trump warned last year that he would slap huge levies on China, Canada and Mexico.
Ahead of him taking office on January 20, the US Defense Department on Tuesday added tech giant Tencent and battery manufacturer CATL to a list of companies it says are affiliated with Beijing's military.
China accused Washington of "unjustified suppression", while Tencent's shares plummeted more than seven percent in Hong Kong.
CATL stock sank 5.2 percent.
Shares in US chip designer Nvidia had rallied Monday on a positive outlook, giving the company a market value of more than $3.6 trillion.
In trading on Tuesday, the euro strengthened against the dollar as official data showed eurozone inflation accelerated in December to 2.4 percent.
It comes amid concern that Trump's tariff plans along with pledges to slash taxes, remove regulations and crack down on immigration will reignite US inflation, putting pressure on the Fed to keep borrowing costs higher for longer.
Friday's US non-farm payroll report is the next big marker for investors hoping for some idea about the Fed's plans for rates after recently scaling back its forecasts for cuts in 2025.
- Key figures around 1100 GMT -
Paris - CAC 40: UP 0.5 percent at 7,485.93 points
Frankfurt - DAX: UP 0.3 percent at 20,276.48
London - FTSE 100: DOWN 0.2 percent at 8,230.87
Tokyo - Nikkei 225: UP 2.0 percent at 40,083.30 (close)
Hong Kong - Hang Seng Index: DOWN 1.2 percent at 19,447.58 (close)
Shanghai - Composite: UP 0.7 percent at 3,229.64 (close)
New York - Dow: DOWN 0.1 percent at 42,706.56 (close)
Euro/dollar: UP at $1.0424 from $1.0388 on Monday
Pound/dollar: UP at $1.2556 from $1.2518
Dollar/yen: UP at 157.76 yen from 157.64 yen
Euro/pound: UP at 83.05 pence from 82.98 pence
Brent North Sea Crude: UP 0.5 percent at $76.67 per barrel
West Texas Intermediate: UP 0.3 percent at $73.77 per barrel
T.Hancock--TNT
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