Stock market today: Global shares mostly rise, cheered by another Wall Street rally
TOKYO (AP) — Global shares mostly rose Tuesday as investors were encouraged by another rally on Wall Street.
France’s CAC 40 rose 0.7% to 8,132.14. Germany’s DAX added 1.3% to 23,450.65, while Britain’s FTSE 100 rose 0.5% to 8,720.83. The futures for the S&P 500 and the Dow industrials were nearly unchanged.
In Asia, Japan’s benchmark Nikkei 225 gained 1.2% to finish at 37,845.42.
The Bank of Japan was expected to keep its benchmark interest rate unchanged at a monetary policy board meeting due to wrap up Wednesday.
The U.S. Federal Reserve also is due to announce its latest decision on interest rates Wednesday.
Shares in major Japanese trading companies rose after Warren Buffett’s Berkshire Hathaway reported increases in its ownership of those companies. Itochu Corp. rose 2.5%, Marubeni Corp. added 3.5%, and Mitsubishi Corp. gained 3.6%, while Mitsui & Co. shares were up 3.1%. The investments, although still under 10% in each company, are seen as an expression of confidence in the Japanese economy.
Elsewhere in Asia, Hong Kong’s Hang Seng jumped 2.5% to 24,740.57, led by buying of tech-related stocks. The Shanghai Composite inched up 0.1% to 3,429.76.
Australia’s S&P/ASX 200 rose nearly 0.1% to 7,860.40. South Korea’s Kospi inched up less than 0.1% to 2,612.34.
Trading on Indonesia stock exchange was suspended temporarily as the benchmark JSX tumbled as much as 6%. But it bounced back a bit, falling 3.8%.
Investors have been selling shares in state-owned banks after the government launched a sovereign wealth fund, called Danantara, that so far has not proven popular. Worries over U.S. President Donald Trumps tariff increases and other risks have also shaken confidence in the economy, said Budi Frensidy, a professor at the University of Indonesia.
U.S. stocks have been mostly tumbling on worries over President Donald Trump’s policies, including tariffs. The Federal Reserve isn’t expected to make a move on interest rates Wednesday. The central bank has been keeping rates steady so far this year, preferring to see how conditions play out.
On Wall Street, stocks climbed again on Monday as the wild roller-coaster ride veered upward.
The S&P 500 rose 0.6% to 5,675.12, for a second straight gain after it fell 10% below its record late last week. The Dow Jones Industrial Average climbed 0.9% to 41,841.63, and the Nasdaq composite added 0.3% to 17,808.66.
In energy trading, benchmark U.S. crude added 67 cents to $68.25 a barrel. Brent crude, the international standard, rose 70 cents to $71.77 a barrel.
In currency trading, the U.S. dollar edged up to 149.81 Japanese yen from 149.21 yen. The euro cost $1.0943, up from $1.0922.
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AP writer Niniek Karmini in Jakarta contributed to this report.
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