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    Global shares mostly higher after rise on Wall Street

    TOKYO (AP) – Global shares were mostly higher yesterday, cheered by a rise on Wall Street amid some signs of easing tensions between the United States (US) and China on trade issues.

    France’s CAC 40 added 0.4 per cent to 5,615.22 in early trading, while Germany’s DAX gained nearly 0.7 per cent to 12,351.87. Britain’s FTSE 100 was at 7,312.06, up 0.6 per cent. US shares were set to drift higher with Dow futures rising 0.2 per cent to 26,956. S&P 500 futures were up nearly 0.2 per cent at 2,983.60.

    Japan’s benchmark Nikkei 225 rose nearly 1.0 per cent to finish at 21,597.76. Australia’s S&P/ASX 200 rose 0.4 per cent to 6,638.00. South Korea’s Kospi added 0.8 per cent to 2,049.20. Hong Kong’s Hang Seng gained 1.7 per cent to 27,130.04, while the Shanghai Composite slid 0.4 per cent to 3,008.81.

    On Wall Street, investors continued to flock to smaller-company stocks they see as being better shielded from the fallout of the costly trade war between the US and China than large multinationals.

    The S&P 500 index inched up 0.96 points, or less than 0.1 per cent, to 2,979.39. The Dow Jones Industrial Average rose 73.92 points, or 0.3 per cent, to 26,909.43. The average was briefly down 118 points. The Nasdaq, which is heavily weighted with technology stocks, slid 3.28 points, or less than 0.1 per cent, to 8,084.16. The Russell 2000 index of smaller-company stocks led the gainers, adding 18.76 points, or 1.2 per cent, to 1,542.99.

    Chinese investors monitor stock prices at a brokerage house in Beijing. Asian shares were mostly higher yesterday, cheered by a rise on Wall Street amid some signs of easing tensions between the US and China on trade issues. PHOTO: AP

    The US market has been gaining ground for two weeks as investors remain confident in the strength of the economy, despite the lingering trade war between the US and China.

    The feud between the world’s two largest economies has been injecting doses of volatility into the market as both sides escalate and then pull back. Recent plans for trade talks to resume in October raised some hope on Wall Street for a resolution.

    “The US-China tug of war will continue, but there is growing sense that US-China sentiment may be shifting to a state of trade war neutrality,” said Stephen Innes, Asia-Pacific market strategist at AxiTrader.

    Meanwhile, investors continue to watch the steady flow of economic data for a clearer picture of the US economy’s health. Recent reports have been a mixed bag, including a Labour Department report on Tuesday that showed both a slip in job openings as well as a slight increase in hiring in July.

    The Labour Department will report the latest consumer price index figures today and the Commerce Department will report August retail sales data on Friday. Economists continue to expect the Federal Reserve to cut interest rates at its meeting next week to help maintain US economic growth.

    ENERGY:

    Benchmark crude oil rose 51 cents to USD57.91. It fell 45 cents to USD57.40 a barrel on Tuesday. Brent crude oil, the international standard, gained 53 cents to USD62.91 a barrel.

    CURRENCIES:

    The dollar rose to JPY107.79 from JPY107.39 on Tuesday. The euro edged up to USD1.1040 from USD1.1035.

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