World shares advance after modest gains on Wall St

By ELAINE KURTENBACH
AP Business Writer

Shares have advanced in Europe and Asia after Wall Street benchmarks managed to close mostly higher. Stocks gained in Paris, Frankfurt and Tokyo. In China, a major Communist Party meeting ended, as expected, with a resolution setting the stage for President Xi Jinping to remain top leader for life. The Chinese economy has been slowing after bouncing back from a pandemic downturn, but the record $139.1 billion spent by Chinese shoppers during this year’s annual Nov. 11 Singles’ Day shopping extravaganza suggested potential for resilient retail demand. The S&P 500 is still on track for its first weekly loss in six weeks after eking out a gain of under 0.1% on Thursday.