FILE - People watch trading boards at a private stock market gallery in Kuala Lumpur, Malaysia, Tuesday, Aug. 25, 2015.
Asian markets continued a global rally Friday, but Europe appears to be nearly standing steady.
Japan＇s Nikkei index closed up 3 percent, while Shanghai gained 4.8 percent one day after closing up more than 5 percent.
Other Pacific region markets were also higher, except for Hong Kong＇s Hang Seng, which fell one percent.
Key European markets were down slightly in early trading Friday after advancing more than 3 percent the previous trading day.
The global rally began on Thursday after days of market turmoil driven by fears that China’s economic growth was slowing.
In a volatile trading session in New York, the S&P 500, Dow Jones and NASDAQ all gained well over two percent.
Stronger than expected data on U.S. economic growth was one factor that encouraged traders to bid up stock prices. The upbeat report also helped crude oil prices surge more than 10 percent for their biggest one-day rally in more than 6 years. They recovered much of the ground lost recently, as investors expected economic growth to generate more demand for energy.
Analysts warn there could be more volatility, despite what currently appears as markets generally returning to calm.
Chinese officials have tried to stem recent stock market losses by cutting interest rates in a bid to boost economic growth. A cheaper currency gives Chinese-made products a price advantage on global markets, which can encourage exports and growth. |
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