December 4, 2023

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Global shares rise amid hopes for global economic rebound | National News

2 min read

TOKYO (AP) — Global shares rose Friday, echoing a rally on Wall Street, as hopes grew for a gradual global economic recovery from the damage of the coronavirus pandemic.

France’s CAC 40 rose 0.6% in early trading to 5,643.50, while Germany’s DAX inched down less than 0.1% to 14,053.69. Britain’s FTSE 100 was up nearly 0.1% to 6,508.33. U.S. shares were set to open higher, with Dow futures up nearly 0.2% at 31,002. S&P 500 futures were also up 0.2% at 3,872.38.

Japan’s benchmark Nikkei 225 surged 1.5% to finish at 28,779.19. Australia’s S&P/ASX 200 rose 1.1% to 6,840.50, and South Korea’s Kospi climbed 1.1% to 3,120.63. Hong Kong’s Hang Seng jumped 0.6% to 29,279.74, while the Shanghai Composite fell 0.2% to 3,496.33.

Asian markets got a lift from positive employment data from the U.S., which has set off a mood of “confidence about the U.S. economy getting back on its feet,” said Venkateswaran Lavanya of Mizuho Bank in Singapore.

An apparent sign in global data of a gradual decline in COVID-19 cases is also nurturing hopes for a rebound. So are rollouts of COVID-19 vaccines, Lavanya said.

Global investors are watching various company earnings reports. There is also optimism that Washington can reach a deal for another round of fiscal stimulus for millions of Americans. | Newsphere by AF themes.