World shares mostly climb after a rally for Apple leads Wall Street
higher
[August 07, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — World shares mostly advanced and financial
markets appeared to show scant if any reaction to President Donald
Trump's higher tariffs on exports to the United States that took effect
early Thursday.
In early European trading, Germany's DAX rose 0.9% to 24,137.51. In
Paris, the CAC 40 added 0.8% to 7,693.36, while Britain's FTSE 100 shed
0.3% to 9,138.96.
The future for S&P 500 edged 0.5% higher while that for Dow Jones
Industrial Average added 0.3%.
In Asian trading, Japan’s benchmark Nikkei 225 added 0.7% to 41,059.15.
Hong Kong’s Hang Seng climbed 0.7% to 25,081.63, and the Shanghai
Composite added 0.2% to 3,639.67. China reported that its exports picked
up in July, helped by a flurry of shipments by businesses taking
advantage of a pause in Trump's tariff war with Beijing.
South Korea’s Kospi rose 0.9% to 3,227.68, while the S&P/ASX 200 in
Australia shed 0.1% to 8,831.40.
India’s Sensex gave up 0.8% after Trump ordered tariffs on imports from
the world's most populous nation to rise to 50%, citing its crude oil
imports from Russia.
Trump also declared 100% tariffs on computer chips with an exemption for
U.S. investments. Apple's shares rose 5.1% on Wednesday ahead of a White
House event where it announced an increase to its U.S. investments of an
additional $100 billion over the next four years.
Mizuho Bank, in a commentary, said the Trump’s exemption from 100%
tariffs on semiconductors for those with investments in U.S. production
means some U.S. trading partners may be able to use their investments in
the U.S. as a bargaining chip.
Taiwan's Taiex jumped 2.4% as shares in market heavyweight Taiwan
Semiconductor Manufacturing Corp. surged 4.9%. TSMC is the world's
largest contract maker of computer chips and it has been ramping up its
investments in U.S. factory capacity, helping to alleviate the impact
from higher tariffs.
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A currency trader smiles near a screen showing the Korea Composite
Stock Price Index (KOSPI), top left, and the foreign exchange rate
between U.S. dollar and South Korean won at the foreign exchange
dealing room of the Hana Bank headquarters in Seoul, South Korea,
Thursday, Aug. 7, 2025. (AP Photo/Ahn Young-joon)
 South Korean chipmakers also saw
strong gains, with Samsung Electronics jumping 2.5% after the
government said its products would also be subject to the exemption.
On Wednesday, a rally for Apple led Wall Street higher, with U.S.
stocks reclaiming more of their sharp losses from last week.
The S&P 500 rose 0.7% and the Dow added 0.2%. The Nasdaq composite
climbed 1.2%. Apple alone accounted for more than a third of the S&P
500’s gain.
Trading elsewhere on Wall Street was mixed following a jumble of
profit reports. McDonald’s and Shopify rose following their latest
updates, while Super Micro Computer tumbled after its earnings and
revenue came in below analysts’ expectations. The Walt Disney Co.
fell after its earnings beat forecasts but its revenue fell short
Worries are still high that Trump’s tariffs may be hurting the
economy, but hopes for coming cuts to interest rates by the Federal
Reserve and a parade of stronger-than-expected profit reports from
U.S. companies have helped steady the market.
In other dealings early Thursday, benchmark U.S. crude gained 19
cents to $64.54 a barrel. Brent crude, the international standard,
added 25 cents to $67.14 a barrel.
The U.S. dollar slipped to 147.10 Japanese yen from 147.36 yen. The
euro cost $1.1678 up from $1.1661.
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