July 24, 2024

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Global shares rise after US stocks gain for 5th day | National News

2 min read

TOKYO (AP) — Global shares rose on Tuesday, cheered by a rally to all-time highs on Wall Street despite growing concern over the AstraZeneca COVID-19 vaccine.

France’s CAC 40 edged up 0.3% in early trading to 6,051.82, while Germany’s DAX added 0.4% to 14,521.75. Britain’s FTSE 100 rose 0.6% to 6,792.22. U.S. shares were set for a slow start, with Dow futures down 0.1% at 32,810. S&P 500 futures were unchanged at 3,958.30.

In Asian trading, Japan’s benchmark Nikkei 225 rose 0.5% to finish at 29,921.09. South Korea’s Kospi added 0.7% to 3,067.17. Australia’s S&P/ASX 200 jumped 0.8% to 6,827.10. Hong Kong’s Hang Seng gained 0.7% to 29,027.69, while the Shanghai Composite recouped earlier losses and rose 0.8% to 3,446.73.

The slower rollouts of the coronavirus vaccine in Asia, compared to the U.S. and Europe, continues to put investors in the region in a cautionary mode, although South Korea, Taiwan, Japan and other nations have had fewer deaths.

Weighing on sentiment is news that the vaccine from AstraZeneca had had reports “blood clots after usage, whether or not a side-effect, (that) have resulted in a ‘precautionary’ suspension” in Europe,” said Venkateswaran Lavanya of Mizuho Bank in Singapore.

“This has set back Europe’s vaccination progress even more starkly compared to the U.S.,” Lavanya said in a report.

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