World Stocks Mostly Rise Despite Tariff07/08 05:25

   World shares mostly rose Tuesday, with financial markets shrugging off U.S. 
tariff pressures on its trading partners.

   (AP) -- World shares mostly rose Tuesday, with financial markets shrugging 
off U.S. tariff pressures on its trading partners.

   In early European trading, Germany's DAX rose 0.2% to 24,112.38. Britain's 
FTSE 100 edged 0.2% higher to 8,822.09. France's CAC 40 shed 0.1% to 7,716.19.

   The futures for the S&P 500 added 0.1% . The futures for the Dow Jones 
Industrial Average shed 0.1%.

   In Asia, Japan's Nikkei 225 added 0.3% to 39,688.81 while South Korea's 
Kospi surged 1.8% to 3,114.95.

   Hong Kong's Hang Seng index climbed 1.1% to 24,140.13 while the Shanghai 
Composite gained 0.7% to 3,497.48. Australia's S&P/ASX 200 edged 0.1% lower to 
8,590.70.

   Stocks on Wall Street closed broadly lower on Monday as the White House 
stepped up pressure on major trading partners to make deals before punishing 
tariffs imposed by the U.S. take effect.

   The S&P 500 fell 0.8% for its biggest loss since mid-June. The benchmark 
index remains near its all-time high set last week.

   The Dow Jones Industrial Average gave back 0.9% while the Nasdaq composite 
also finished 0.9% lower, not too far from its own record high.

   The losses were widespread. Decliners outnumbered gainers by nearly 4 to 1 
on the New York Stock Exchange.

   It came after the Trump administration released letters informing Japan and 
South Korea that their goods will be taxed at 25% starting on Aug. 1, citing 
persistent trade imbalances with the two crucial U.S. allies in Asia. U.S. 
President Donald Trump also announced new tariff rates on Malaysia, Kazakhstan, 
South Africa, Laos and Myanmar.

   Just before hefty U.S. tariffs on goods imported from nearly every country 
around the globe were to take effect in April, Trump postponed the levies for 
90 days in hopes that foreign governments would be more willing to strike new 
trade deals. That 90-day negotiating period was set to expire before Wednesday.

   In a post on his social media platform late Sunday, Trump also said any 
country that aligns itself with what he termed "the Anti-American policies of 
BRICS" would be levied an added 10% tariff. BRICS member nations include 
Brazil, Russia, India, China, South Africa, Egypt, United Arab Emirates, 
Ethiopia, Indonesia, and Iran. Saudi Arabia has also been invited to join.

   "Financial markets have reacted to news of higher US tariffs in sanguine 
fashion," Chris Turner, ING's global head of markets, wrote in a commentary. 
"Presumably, the view is now that there are more deals to be done before the 1 
August deadline."

   He said equity markets have recovered most of their initial losses, bond 
markets have barely budged and in FX, Asian currencies have bounced back.

   In other dealings on Tuesday, benchmark U.S. crude oil lost 29 cents to 
$67.64 per barrel. Brent crude, the international standard, gave up 18 cents to 
$69.40.

   The dollar was trading at 146.17 to the Japanese yen, up from 146.01 yen. 
The euro rose to $1.1752 from $1.1714.