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AP National Business

World stocks mixed, oil prices climb after Fed rate hike

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Published 5:18 AM

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stocks have surged while European markets opened lower after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries. Oil prices rose more than $4 per barrel. London and Frankfurt and Wall Street futures sank. Hong Kong’s market benchmark jumped more than 7% and Tokyo gained 3.5%. Shanghai, Seoul and Sydney advanced. On Wednesday, Wall Street’s benchmark S&P 500 index rose 2.2% after the Fed raised its short-term lending rate by 0.25 percentage points. The widely anticipated change was less than the 0.5 percentage point hike advocated by some officials.

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