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AP National Business

Global shares rise, Hong Kong up on Chinese economic support

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KMIZ

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Published 5:03 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Global shares are higher, led by a 9% surge in Hong Kong’s benchmark after Chinese leaders promised more support for the slowing Chinese economy. Benchmarks rose in Paris, Frankfurt and London after strong gains in Asia. U.S. futures also advanced and oil prices were higher. Investors are awaiting a decision by the U.S. Federal Reserve, which is expected to increase its key short-term rate by 0.25 percentage points at a policy meeting later Wednesday. The Fed is trying to slow the economy enough to tamp down inflation that is at its highest level in a generation while avoiding triggering a recession.

Article Topic Follows: AP National Business

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