World shares mostly gain amid soaring oil prices

World shares advanced on Tuesday, with Tokyo’s benchmark setting another record, while US futures edged lower. The prices of oil and precious metals also climbed.

In early European trading, Germany’s DAX edged 0.1 per cent higher to 24,890.59, while the CAC 40 in Paris lost 0.3 per cent to 8,186.45. Britain’s FTSE 100 picked up 0.5 per cent to 10,056.36. The future for the S&P 500 slipped less than 0.1 per cent while that for the Dow Jones Industrial Average fell 0.2 per cent.

Tokyo’s Nikkei 225 gained 1.3 per cent to surpass the record it set in late October, closing at 52,518.08. South Korea’s Kospi also pushed further into record territory, gaining 1.5 per cent to 4,525.98, buoyed by gains for automakers and some electronics manufacturers. Hong Kong’s Hang Seng surged 1.4 per cent to 26,710.45, and the Shanghai Composite index was up 1.5 per cent at 4,083.67, its highest level in four years. In Australia, the S&P/ASX 200 slipped 0.5 per cent to 8,682.80. Taiwan’s Taiex climbed 1.6 per cent, while in India, the Sensex shed 0.5 per cent.

This week will bring reports on the US jobs market, including updates on job openings and overall employment. Monday’s gains on Wall Street were broad, with particularly big jumps for energy companies and banks. Elsewhere, industrial companies and retailers joined in to help boost major indexes. The S&P 500 rose 0.6 per cent, ending just below its record set in late December. The Dow set a record, adding 1.2 per cent to 48,977.18. The Nasdaq composite rose 0.7 per cent. Smaller company stocks had a particularly strong day, outpacing other indexes, in a sign of broader investor confidence. The Russell 2000 rose 1.6 per cent. Energy companies and the oil market were a key focus after the capture of Venezuelan President Nicolas Maduro by US forces over the weekend.

Venezuela’s oil industry has been decimated by neglect and international sanctions and may require years of substantial investments to restore past production levels. The reports on the jobs market will be a focus for investors as the US central bank weighs weakening employment against risks for rising inflation as it decides whether to cut interest rates. The Federal Reserve cut its benchmark rate three times late in 2025, but inflation has remained above its 2 per cent target, and that has made the Fed more cautious.

Technology companies, especially those developing artificial intelligence, were in the spotlight Monday as the industry kicked off the annual CES trade show in Las Vegas. NVIDIA fell 0.4 per cent, and Applied Materials jumped 5.7 per cent. AI advances helped propel the broader market to a series of records in 2025. Updates from influential technology companies could help shed more light on whether the big investments in AI are worth the potential financial risks.

The price of silver added another 1.2 per cent after soaring 7.9 per cent on Monday.