Global Shares Rise And Japan’s Nikkei Gains 1.2% As Markets Settle
August 7, 2024 4:31AM PDT
A currency trader reacts near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 5, 2024. (AP Photo/Ahn Young-joon)
(Associated Press) – World shares have advanced, with Japan’s benchmark Nikkei 225 index closing 1.2% higher after a Bank of Japan official suggested the central bank would refrain from raising interest rates while markets are unstable.
U.S. futures gained and oil prices edged higher. Chinese shares were marginally higher after a report that Chinese exports rose 7% in July, the slowest pace in three months.
On Tuesday, calm returned to most markets after a bout of volatility that brought the worst drops in years for many world markets.
The S&P 500 rose 1% to break a brutal three-day losing streak.
The Dow Jones Industrial Average climbed 0.8%, and the Nasdaq composite added 1%.
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