Global stocks rise after Wall Street surges on hopes for lower interest rates

"Shares in Europe and Asia advanced on Wednesday after benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to cut interest rates.The future for the S&P 500 gained 0.3%, while that for the Dow Jones Industrial Average was up 0.2%.In early European trading, Germany's DAX gained 0.2% to 23,500.98, while the CAC 40 in Paris also rose 0.2%, to 9,623.22. Britain's FTSE 100 edged 0.1% higher."

"In Asia, Tokyo's Nikkei 225 rose 1.9% to 49,559.07 in a broad rally that encompassed major exporters and technology shares. However, shares in Kioxia dropped 14.9% on reports that Bain Capital plans to sell $2.3 billion of the computer memory maker's shares.In South Korea, the Kospi gained 2.7%, to 3,960.87, helped by a 3.5% gain for Samsung Electronics, the market's biggest heavyweight. Computer chip maker SK Hynix climbed 1%."

"Chinese markets were mixed.Hong Kong's Hang Seng rose 0.1% to 25,928.08 and the Shanghai Composite index slipped 0.2%, to 3,864.18.Chinese e-commerce and technology giant Alibaba fell 1.9%. Its U.S.-traded shares fell 2.3% on Tuesday after its profit fell short of forecasts, though it reported stronger revenue than analysts had expected for the latest quarter.Australia's S&P/ASX 200 climbed 0.8% to 8,606.50. In New Zealand, the S&P/NZX 50 added 0.6% after the central bank cut its official cash rate to 2.25% from $2.5%."

Global markets advanced as investors priced in expected Federal Reserve interest-rate cuts, lifting U.S. futures and major European benchmarks. Germany's DAX, France's CAC 40 and Britain's FTSE 100 all posted modest gains. Asian markets rallied broadly, led by Tokyo's Nikkei and South Korea's Kospi, with Samsung Electronics contributing to gains, while Kioxia plunged on a reported large share sale. Taiwan's Taiex rose and Chinese markets were mixed, with Alibaba shares down after profit disappointed forecasts despite stronger revenue. Australia and New Zealand gained, aided by a New Zealand cash-rate cut. U.S. small caps jumped on hopes of easier borrowing costs.

Read at Fast Company