World shares were mostly higher Monday following last week's rally on Wall Street, where investors bet that slow U.S. wage gains may augur a cooling of the inflation that has led the Federal Reserve to hike interest rates.
In Europe, Germany's DAX gained 0.3% to 14,647.16 and the CAC 40 in Paris edged less than a point higher, to 3,817.82. Britain's FTSE 100 edged 0.1% lower to 7,691.05.
Caixin quoted Guo Shuqing, the Communist Party secretary of the People's Bank of China as saying the government would support companies in the sector in creating more jobs and competing globally. Hong Kong's Hang Seng index gained 1.9% to 21,388.34 while the Shanghai Composite index added 0.6% to 3,176.08.
Investors are watching for the Fed's plans for rate hikes. Higher rates slow the economy by design, seeking to grind down inflation, but they risk causing a recession and dragging down prices for all kinds of investments. A separate report showed that service industry activity in the U.S. contracted last month, the first time that's happened since 2020.
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