Associated Press, by Jiang Junzhe
HONG KONG (AP) – Global markets were high on Friday after Wall Street recovered on the third day, hoping the Federal Reserve will cut interest rates.
The future of the S&P 500 rose 0.5%, while the future of the Dow Jones Industrial Average rose 0.1%.
In European trade, Paris’ CAC 40 was added to 7,554.56 to 0.7%, while Germany’s DAX was 0.4% higher at 22,154.72.
The UK FTSE 100 rose 0.2% to 8,422.52 after the country reported better retail sales in March.
Tokyo’s Nikkei 225 rose sharply to 1.9% at 35,705.74, while South Korea’s Kospi rose from 0.9% to 2,546.15.
Hong Kong’s Hangsen rose 0.3% to 21,980.74, while the Shanghai Composite Index fell 0.1% to inch to 3,295.06.
The rally was boosted by Trump’s hopes of easing his approach to tariffs and the Federal Reserve, but China denied its involvement in aggressive trade negotiations with the United States on Thursday.
Tech stocks rose in China after some semiconductor importers told Caijing Magazine that several chips made in the US were quietly exempt from the country’s 125% retaliatory tariffs.
Lenovo Group rose 3.4%, while Chinese search engine company Baidu added 3.9%.
However, stake in Semiconductor Manufacturing International Corporation, China’s largest semiconductor foundry, lost 2.8%.
Taiwan’s Taiex has added 2%. India’s Sensex sank 0.4% after tensions with Pakistan over Pahargam’s terrorist attacks.
The Australian market was closed for Anzac Day.
The Wall Street rally continued to roll on Thursday as better than expected profits for US companies, which were primarily built up in reports from high-tech companies such as ServiceNow and Texas Instruments, offsetting uncertainty in the retail sector.
Federal Reserve officials raised expectations for interest rate cuts as they said that if Trump’s tariffs hurt the US economy and job markets, they would cut interest rates as early as June.
The S&P 500 was charged 2% higher at 5,484.77, pulling within 11% of the record set earlier this year. The Dow Jones industrial average rose 1.2% to 40,093.40, while the Nasdaq composite jumped to 2.7% to 17,166.04.
In another move early Friday, US benchmark crude flowed 15 cents from $62.64 per barrel in electronic trading on the New York Commercial Exchange.
International standard Brent Crude slid 13 cents per barrel to $66.42.
The US dollar rose from 142.69 yen to 143.42 yen. The euro went from $1.1391 to $1.1344.
Original issue: April 25th, 2025 7:33am EDT
