Global shares rise as Wall Street gains for 3rd straight day
Asian indexes closed higher and European markets were up in midday trading, while Wall Street futures pointed to gains on the open in the U.S.
Investors appear to be focused instead on hopes that the worst of the pandemic downturn has passed, or will soon, as governments slowly lift the restrictions that left broad swaths of their economies at a standstill beginning in March. Economic data in Europe was mixed, with a small increase in unemployment due both to governments' efforts to keep workers on payrolls as well as a drop out of the labour market by discouraged jobseekers. The rate edged up to just 7.3% in April, the first full month when pandemic lockdowns hit the continent, from 7.1% in March.
In Asian trading, Japan's Nikkei 225 gained 1.3% to 22,613.76. South Korea's Kospi surged 2.9% to 2,147.00. Hong Kong's Hang Seng was up 1.4% at 24,325.62, while the Shanghai Composite was little changed, inching up less than 0.1% to 2,923.37.
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