MANILA, Philippines — Global shares are mostly lower Tuesday a day after U.S. stocks continued a stunning recovery from a springtime sell-off of roughly 20%.

Britain’s FTSE 100 gained 0.72% to 8,798.91, while Germany’s DAX shed 0.4% to 23,809.62. In Paris, the CAC 40 dropped 0.5% to 7,629.65.

After another big day for U.S. markets, futures for the S&P shed 0.2% and that for the Dow Jones Industrial Average edged 0.1% lower.

In Asian trading, Japan’s Nikkei 225 fell 1.2% to 39,986.33 despite positive results of the central bank’s quarterly Tankan survey which showed a better than expected improvement in business sentiment among large manufacturers.

The Shanghai Composite index added 0.4% to 3,457.75 after China’s official manufacturing purchasing managers index, or PMI, rose to a three-month high of 49.7 in June while the PMI for services and other non-manufacturing businesses also rose to a three-month high of 50.5.

Hong Kong’s stock market was closed on Tuesday.

South Korea’s KOSPI Composite Index rose 0.6% to 3,089.65. The government reported that exports bounced back in June, helped by strong demand for semiconductors, ships and health products.

“Automobile and automotive parts exports also gained. Strong electric vehicle exports to the EU and solid used-car exports partially offset the decline of U.S. exports. However, we expect auto exports to remain soft due to tariffs and increased production in the U.S.,” Min Joo Kang of ING Economics said in a report.

Australia’s S&P/ASX 200 edged down 0.1% to 8,541.10.

Thailand’s SET jumped 1.7% after Thailand’s Constitutional Court has suspended Prime Minister Paetongtarn Shinawatra from office pending an investigation over a leaked phone call with a senior Cambodian leader.

The PSEi in Manila, Philippines, added 0.9% to 6,423.85 On Monday, Wall Street resumed its upward climb.

The S&P 500 rose 0.5%. It has staged a stunning recovery from its springtime sell-off of roughly 20%. The Dow added 0.6% and the Nasdaq composite gained 0.5%.

Stocks got a boost after Canada said it would rescind a planned tax on U.S. technology firms and trade talks with the United States resumed. On Friday, U.S. President Donald Trump had said he was suspending those talks to retaliate for the tax, calling it “a direct and blatant attack on our country.”

U.S. stocks have bounced back on hopes that Trump will reach deals with other countries to lower his painful high tariffs and avert trade wars that could stifle the economy and send inflation higher.

Many of Trump’s announced tariffs have been postponed and are due to kick back into effect on July 9.

The U.S. stock market recovery could raise the risk Trump will resume escalating tariffs, similar to what happened in 2018-2019, according to strategists at Deutsche Bank led by Parag Thatte and Binky Chadha.

On Wall Street, Oracle’s 4% rise was one of the strongest forces lifting the S&P 500. CEO Safra Catz said the tech giant “is off to a strong start” in its fiscal year and that it signed multiple large cloud services agreements, including one that could contribute over $30 billion in annual revenue two fiscal years from now.

GMS’ stock jumped 11.7% after the supplier of specialty building products said it agreed to sell itself to a Home Depot subsidiary in a deal that would pay $110.00 per share in cash. That would give it a total value of roughly $5.5 billion, including debt.

In other dealings early Tuesday, benchmark U.S. crude oil lost 4 cents to $65.07 per barrel, while Brent crude, the international standard, fell 7 cents to $66.80 per barrel.

The U.S. dollar dipped to 142.86 Japanese yen from 144.04 yen. The euro rose to $1.1822 from $1.1787.