World shares rose Monday as investors took heart from reports that show inflation is abating, which might enable the Federal Reserve to back away from interest rate hikes.
Germany's DAX added 0.3% to 16,187.06. In Paris, the CAC 40 edged up 0.1% to 7,406.82 and Britain's FTSE 100 rose 0.3% to 7,553.25.
Inflation in Europe slid again in June, with the annual rate at 5.5%, down from 6.1% in May in the 20 countries that use the euro currency, the European Union statistics agency Eurostat reported. In Asian trading, Japan's benchmark Nikkei 225 rose 1.7% to 33,753.33 in afternoon trading. Australia's S&P/ASX 200 added 0.6% to 7,246.10. South Korea's Kospi jumped 1.5% to 2,602.47. Hong Kong's Hang Seng surged 2.1% to 19,306.59, while the Shanghai Composite gained 1.3% to 3,243.98.
Yields in the bond market turned lower Friday after the release of the economic data. The 10-year Treasury yield fell to 3.82% from nearly 3.87% just before the report's release. It helps set rates for mortgages and other important loans.
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