Stock market today: Global shares mostly rise after Wall Street rebound led by tech stocks


TOKYO (AP) — Global shares mostly rose Friday, helped by optimism about technology shares following a Wall Street rally led by big tech stocks.

France’s CAC 40 edged up 0.4% in early trading to 7,616.10, while Germany’s DAX rose 0.6% to 16,966.54. Britain’s FTSE 100 gained 0.5% to 7,659.55. U.S. shares were set to drift slightly higher with Dow futures being virtually unchanged at 38,621.00. S&P 500 futures rose 0.6% to 4,956.50.

Japan’s benchmark Nikkei 225 added 0.4% to finish at 36,158.02. Aozora Bank’s shares plunged nearly 16% after it reported losses on its U.S. property investments. On Thursday, the bank’s shares dived 27.4 percent. The lender attributed its losses to high interest rates and a weaker commercial property market during and after the pandemic, as companies switched to hybrid or remote working arrangements.

Australia’s S&P/ASX 200 jumped 1.5% to 7,699.40.

South Korea’s Kospi surged 2.9% to 2,615.31 after the country reported strong export data.

Hong Kong’s Hang Seng shed 0.2%, to 15,533.56, while the Shanghai Composite index dropped 1.5% to 2,730.15.

On Wall Street, U.S. stocks bounced back in a widespread rally following their worst day since September.

The S&P 500 gained 1.2% to recover three quarters of its sharp loss from the day before, while the Dow rose 1%. The Nasdaq composite leaped 1.3%, lifted by Big Tech stocks, which have an outsized influence.

Traders are increasingly betting the Federal Reserve will begin cutting interest rates in May, after pushing back expectations from March. Whenever it does begin, it would mark a sharp turnaround after the Fed hiked its main interest rate to the highest level since 2001 in hopes of getting inflation under control.

High interest rates intentionally slow the economy, and they undercut prices for investments.

Investors are also looking ahead to some inflation figures, including data on China due next week. In Asia, central bank meetings in Australia, India and Thailand are also scheduled for next week.

In energy trading, benchmark U.S. crude rose 31 cents to $74.13 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 40 cents to $79.10 a barrel.

In currency trading, the U.S. dollar was little changed at 146.72 Japanese yen, up from 146.43 yen. The euro cost $1.0893, up from $1.0874.

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