Global stock markets mostly higher after Wall Street rebound – KIRO 7 News Seattle

BEIJING – (AP) – Global stock markets rose on Wednesday after Wall Street rebounded as investors tried to figure out how the rising coronavirus cases will affect the global economy.

London and Frankfurt opened higher while Shanghai, Tokyo and Sydney advanced. Hong Kong and Seoul refused.

Investor optimism was fueled by higher US corporate earnings despite a surge in the more contagious Delta variant of the virus.

The Wall Street benchmark index S&P 500 rose 1.5% overnight, making up much of the previous day’s loss.

“The defensive flows have subsided. However, profits are likely to be capped by ongoing concerns about the Delta variant of COVID-19, “ActivTrades’ Anderson Alves said in a report. “A new wave of infections could delay the reopening of the global economies.”

In early trading, the FTSE 100 in London rose 1.6% to 6,989.90, while the DAX in Frankfurt rose 0.7% to 15,322.69. The CAC in Paris rose 1.4% to 6,438.83.

On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average rose 0.7%.

On Tuesday, the Dow and Nasdaq composites were both up 1.6%.

In Asia, the Nikkei 225 in Tokyo rose 0.6% to 27,548.00 after Japan’s June exports rose 48.5% yoy, beating forecasts.

The Seoul Kospi lost 0.5% to 3,215.91 after South Korea reported a daily high of 1,784 new coronavirus cases.

The Shanghai Composite Index rose 0.7% to 3,562.66 while the Hang Seng in Hong fell 0.1% to 27,1224.58.

Sydney’s S&P ASX 200 rose 0.8% to 7,308.70 after Australian retail sales rose 1.3% year over year in the three months to June.

New Zealand and Southeast Asian markets won. Indian markets were closed for a public holiday.

The U.S. market has gained ground in troubled trading despite uncertainty about the virus’ ongoing business impact and inflation.

The US Centers for Disease Control said an estimated 83% of US cases are associated with the Delta variant.

Investors were encouraged by the quarterly results, which show that many companies are increasing their profits.

In the energy markets, the US benchmark oil price in electronic trading on the New York Mercantile Exchange rose 96 cents to $ 68.16 per barrel. Brent crude, the price basis for international oils, rose 96 cents in London to $ 70.31 a barrel.

The dollar gained 110.13 yen from 109.83 yen on Tuesday. The euro fell from $ 1.1783 to $ 1.1777.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.