World markets up after 2 days of losses
AP and AFPLONDON/BEIJING--World stocks mostly rebounded Friday from two days of doldrums sparked by fears the Federal Reserve would withdraw monetary stimulus. European markets were helped by a better-than-expected German business confidence survey.
February 23, 2013, 12:01 am TWN
The Asian heavyweight, Tokyo's Nikkei 225 index, opened down but recovered to gain 0.7 percent to 11,385.94. In the region's biggest economy, China's benchmark Shanghai Composite Index fell 0.5 percent to 2,314.15.
In Europe, France's CAC-40 was up 1.3 percent at 3,670.74 and Germany's DAX gained 0.7 percent to 7,63.71. Britain's FTSE 100 added 0.8 percent to 6,344.30. Sentiment was helped by Germany's IFO business survey that further eased fears of recession in Europe's biggest economy.
Wall Street was set to gain. Dow futures added 0.3 percent to 13,906 and S&P 500 futures rose 0.4 percent to 1,506.70.
In Asia, Seoul's Kospi gained 0.2 percent to 2,018.89. Hong Kong's Hang Seng shed 0.5 percent to 22,782.44. Australia's ASX/S&P 200 added 0.8 percent to 5,018.10.
World markets had been rattled by Wednesday's release of notes from the Fed's last policy meeting that suggested some policymakers were worried about the cost of its monetary stimulus. That sparked concern the Fed might wind down asset purchases, though some analysts suggested such fears were overblown.
Gold was at US$1,579.80 at 1030 GMT, compared with US$1,568.41 late Thursday.
In other markets:
— Manila closed flat, edging down 2.35 points to 6,665.06.
— Wellington climbed 1.06 percent, or 44.18 points, to 4,214.60.
— Singapore closed up 0.02 percent, or 0.53 points, at 3,288.13.
— Jakarta closed up 0.40 percent, or 18.72 points, at 4,651.12.
— Bangkok added 0.74 percent, or 11.39 points, to 1,540.13.
— Kuala Lumpur climbed 0.50 percent, or 8.03 points, to close at 1,622.08.
— Mumbai edged down 0.04 percent, or 8.35 points, to 19,317.01.