Stock market today: World shares are mostly lower after US holiday quiet

TOKYO (AP) โ€” Stocks fell mostly in Europe and Asia on Tuesday after U.S. markets closed for the Memorial Day holiday.

Germany's DAX gained 0.3% to 18,828.68, while Paris' CAC 40 fell 0.1% to 8,121.17. In Britain, the FTSE 100 lost 0.2% to 8,303.25, reopening after a bank holiday on Monday.

The S&P 500 future rose 0.2%, while the Dow Jones Industrial Average future rose 0.1%.

In Asian trading, Chinese markets rose and then fell after top leaders of the ruling Communist Party met and affirmed Beijing's determination to contain financial risks.

The Shanghai Composite Index fell 0.5% to 3,109.57. Hong Kong's Hang Seng lost less than 1 point to 18,821.16.

The Chinese government recently lowered interest rates and down payment requirements for mortgage loans as part of its effort to revive the real estate sector after a crackdown on excessive borrowing caused many developers to default.

The real estate industry plays a huge role in driving the economy and its problems have weighed on growth.

Monday's meetings led by Chinese President Xi Jinping "pointed out that preventing and defusing financial risks is a major challenge," the official Xinhua news agency reported.

Efforts to strengthen supervision "should be strictly implemented to send a strong signal that any violators will be held accountable, so that financial supervision actually has 'tooth and thorns' and is pointed," Xinhua said.

Tokyo's Nikkei 225 fell 0.1% to 38,855.37 and Seoul's Kospi was virtually unchanged at 2,722.85. Australia's S&P/ASX 200 lost 0.3% to 7,766.70.

On Friday, the S&P 500 gained 0.7% and the Dow industrials rose less than 0.1%. The Nasdaq Composite gained 1.1% to surpass its all-time high set early last week.

In other trading Tuesday, U.S. benchmark crude oil gained $1.16 to $78.88 a barrel in electronic trading on the New York Mercantile Exchange.

"The tense geopolitical situation supports further gains along with rising US demand in the summer and OPEC's restrictive tone regarding its outlook," Swissquote's Ipek Ozkardeskaya said in a commentary.

Brent crude, the international standard, added 12 cents to $83.00 a barrel.

In currency trading, the US dollar rose to 156.91 Japanese yen from 156.89 yen.

The euro rose to $1.0877 from $1.0860.

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