Global Stocks Mixed After US Travel Ban

TOKYO (AP) -- Global shares were mixed Tuesday, with gains in early European trading after a second day of losses in Asia partly in response to jitters over U.S. President Donald Trump's travel ban.

KEEPING SCORE: France's CAC 40 rose 0.2 percent to 4,794.49 and Germany's DAX also added 0.2 percent to 11,703.36. Britain's FTSE 100 added 0.2 percent to 7,131.02. U.S. shares were set to drift lower with Dow futures losing 0.1 percent to 19,871 and S&P 500 futures also 0.1 percent lower at 2,274.10.

TRUMP FACTOR: Trump's travel ban on seven Muslim-majority countries rattled investors, hitting energy companies and airlines. Technology companies also sagged on worries that future administration moves will make it harder for them to hire skilled, foreign-born workers. Trump also suspended the U.S. refugee program for 120 days and stopped all entry by Syrians into the U.S.

THE QUOTE: "A tale of two weeks and how quickly investor sentiment can turn. Last week's Trumpenomics' rally has given way to a vote of no confidence from investors who are growing leery of President Trump's agenda and are restless about the lack of focus on the fiscal front," said Stephen Innes, a senior trader at OANDA. He added, "the market meltdown overnight was investors voting with their feet in a direct challenge to the Trump-inflation trade."

JAPAN: Japan's central bank left its lax monetary policy unchanged in its first board meeting of the year, but upgraded its growth estimates, citing signs of recovery in manufacturing. The most recent data, for December, paint a mixed picture, with stronger factory output but weaker retail sales and household spending. The Bank of Japan kept its 1-year-old minus 0.1 percent benchmark interest rate intact.

ASIA'S DAY: Japan's benchmark Nikkei 225 dipped 1.7 percent to finish at 19,041.34 as a stronger yen helped send shares lower. Australia's S&P/ASX 200 dropped 0.7 percent to 5,620.90. South Korea's Kospi lost 0.8 percent to 2,067.57. Markets in Hong Kong, China and Taiwan were closed for Lunar New Year holidays.

ENERGY: U.S. crude oil slid 27 cents to $52.36 a barrel in electronic trading on the New York Mercantile Exchange. It lost 54 cents Monday to $52.63 a barrel. Brent crude, the benchmark for international oil prices, fell 29 cents to $55.03 a barrel in London.

CURRENCIES: The dollar fell to 113.86 yen from 114.38 yen on Monday. The euro dipped to $1.0702 from $1.0731.

(KA)