Mixed Global Markets as Wall Street Lull Continues, Chinese Trade Data Impacts Sentiment

A Saudi man walks at the Tadawul Saudi Stock Exchange, in Riyadh, Saudi Arabia, Monday, June 15, 2015. Saudi Arabia's stock market, valued at $585 billion, opened up to direct foreign investment for the first time Monday, as the kingdom seeks an economic boost amid low global oil prices. (AP Photo/Hasan Jamali)
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Hong Kong – Global shares showed a mixed performance on Thursday as Wall Street’s recent stagnation extended into a second day. Chinese benchmarks saw gains following better-than-expected trade figures for April.

In the United States, futures for both the S&P 500 and the Dow Jones Industrial Average dropped 0.2%, indicating a downbeat start for U.S. stocks.

In Europe, according to the Associated Press, Britain’s FTSE 100 edged down by 1.27 to 8,351.80 ahead of the Bank of England’s interest rate decision later in the day. Germany’s DAX rose 0.3% to 18,545.32, while France’s CAC 40 lost 0.1% to 8,125.56.

In Tokyo, the Nikkei 225 index was down 0.3% at 38,073.98. Automaker Mitsubishi Motors Corp.’s shares dropped 4.9% after forecasting a 7% lower net profit for the fiscal year ending in March 2025. Meanwhile, Toyota Motor slipped 0.4% after doubling its net profit in the fiscal year that ended in March.

The U.S. dollar rose to 155.86 Japanese yen from 155.52 yen amid speculation of further intervention by Japan’s Finance Ministry to curb the yen’s slide.

“We’re always prepared to do so if necessary. We might do it today. We might do it tomorrow,” said Masato Kanda, the Finance Vice Minister for International Affairs.

In China, the Hang Seng index added 1.1% to 18,511.26, and the Shanghai Composite gained 0.8% to 3,154.32. China reported a 1.5% rise in exports for April from a year earlier, while imports jumped 8.4%, suggesting a stronger recovery in demand.

In South Korea, the Kospi lost 1.2% to 2,712.14, while Australia’s S&P/ASX 200 shed 1.1% to 7,721.60.

On Wednesday, the S&P 500 finished virtually unchanged at 5,187.67, following a slight gain on Tuesday. The Dow Jones Industrial Average rose 0.4% to 39,056.39, while the Nasdaq composite slipped 0.2% to 16,302.76.

Uber Technologies slumped 5.7% after reporting worse-than-expected results for the latest quarter. Shopify tumbled 18.6% despite reporting better profit and revenue for the latest quarter. Match Group sank 5.4% despite topping profit expectations.

Most companies have been reporting stronger profits for the start of the year than analysts expected, contributing to the U.S. stock market’s recovery from a rough April.

In other markets, U.S. benchmark crude oil rose 66 cents to $79.65 per barrel, while Brent crude oil was up 58 cents to $84.16 per barrel. The euro dropped to $1.0734 from $1.0745.