European markets opened higher on Wednesday, with Germany's DAX edging up 0.2% to 19,067.59, the CAC 40 in Paris adding 0.2% to 7,242.33, and the U.K.'s FTSE 100 rising 0.1% to 8,035.44. Meanwhile, Asian stocks followed Wall Street lower as momentum cooled for the torrid “Trump trade” that swept U.S. markets following Donald Trump’s presidential victory.
Japan’s benchmark Nikkei 225 slipped 1.7% to 38,721.66 due to wholesale inflation reaching its highest level since July of last year. The corporate goods price index rose 3.4% in October year-over-year, partly attributed to the decline of the Japanese yen against the U.S. dollar. South Korea’s Kospi lost 2.6% to 2,417.08, with Samsung Electronics shares falling by 4.5% to their lowest level in over four years.
