Global Stocks Experience Mixed Day as Chinese Markets Dip

BANGKOK – On Tuesday, global stock markets displayed mixed results, with Chinese shares taking a notable hit. Chinese markets saw their worst performance in six months as concerns about Beijing’s recent policy shifts overshadowed Wall Street’s end to its losing streak.

In Europe, major indexes showed modest gains: Germany’s DAX climbed 1%, Paris’s CAC 40 added 0.2%, and London’s FTSE 100 saw a slight uptick. Across the Atlantic, futures for the S&P 500 and Dow Jones Industrial Average were largely unchanged.

Asian markets offered a mixed picture. Tokyo’s Nikkei 225 remained nearly flat, while Chinese indices faltered. The Hang Seng in Hong Kong and the Shanghai Composite both posted losses.

The decline in Chinese markets follows recent interest rate cuts by China’s central bank aimed at boosting the economy. Investors remain skeptical about the effectiveness of these measures.

In corporate developments, Baosteel Iron & Steel Co. has acquired Nippon Steel’s stake in their joint venture, signaling shifts in the steel sector.

Looking ahead, attention will turn to upcoming corporate earnings reports and US economic data, with strong profit growth anticipated for S&P 500 companies.

In the tech sector, stocks like Nvidia saw gains, contributing to a broader market lift. Treasury yields increased following President Biden’s announcement that he will not seek re-election.

In currency and commodity markets, the US dollar and crude oil prices held steady.