Stock market today: World shares are mostly higher after rebound on Wall St
Shares have advanced in Europe and Asia ahead of Monday's Memorial Day holiday in the United States
Shares advanced in Europe and Asia ahead of Monday’s Memorial Day holiday in the United States.
Oil prices also rose.
European shares saw modest gains after the opening while Asian benchmarks gained upward momentum as the day wore on.
Germany's DAX edged 0.1% higher to 18,713.43 and the CAC 40 in Paris rose 0.2% to 8,107.16. Markets in London were closed for a bank holiday.
The future for the S&P 500 slipped less than 0.1% and that for the Dow Jones Industrial Average fell just over 0.1%.
Tokyo's Nikkei 225 added 0.7% to 38,900.02 and the Kospi in Seoul jumped 1.2% to 2,722.99.
Australia's S&P/ASX 200 surged 0.8% to 2,788.30 and the Shanghai Composite index gained 0.8% to 3,124.24 as the government reported corporate profits rose 4.3% year-on-year in January-April.
Hong Kong's Hang Seng reversed early losses, gaining 1.2% to 18,827.35.
In Taiwan and South Korea, heavy buying of computer chip-related shares pushed benchmarks higher. The Taiex ended 1.1% higher after touching a fresh record. MediaTek, a semiconductor company that provides chips for wireless communications, high-definition television and handheld mobile device jumped 7.5%.
Taiwan Semiconductor Manufacturing Corp. logged a slimmer 0.2% gain.
“The robust global semiconductor cycle is positive for Taiwan’s growth outlook,” Raymond Yeung and Bansi Madhavani of ANZ wrote in a research note. “The global semiconductor cycle is strong thanks to breakthroughs in artificial intelligence applications, cloud computing and 5G telecommunications technology,” it said.
On Friday, the S&P 500 gained 0.7%, winning back all its losses from the prior two days. It eked
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