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World Shares Mostly Climb, Oil Slips 07/10 04:46
World shares mostly advanced Friday, helped by buying of technology-related
shares, while oil prices slipped as traders watched for developments in the
Iran war.
HONG KONG (AP) -- World shares mostly advanced Friday, helped by buying of
technology-related shares, while oil prices slipped as traders watched for
developments in the Iran war.
Tensions between Iran and the U.S. have escalated after President Donald
Trump said the Iran war ceasefire agreement was "over" and as the United States
and Iran exchanged attacks.
In early European trading, Britain's FTSE 100 edged up 0.1% to 10,478.98.
France's CAC 40 slipped 0.1% to 8,322.31, while Germany's DAX also gave up 0.1%
to 25,082.58.
The future for the S&P 500 edged 0.1% lower while that for the Dow Jones
Industrial Average gained 0.1%.
In Asian trading, South Korea's Kospi gained 2.5% to 7,475.94, recovering
some of its losses from earlier in the week. Shares in memory chipmaker SK
Hynix, whose debut on the Nasdaq in New York is set for Friday, fell 0.3% in
Seoul.
Tokyo's Nikkei 225 rose 1.2% to 68,557.73. SoftBank Group, a key investor in
OpenAI, jumped 10.7%, while chip equipment maker Tokyo Electron added 2.7%.
Hong Kong's Hang Seng gained 0.6% to 24,175.12 and the Shanghai Composite
index fell 1% to 3,996.16.
Australia's S&P/ASX 200 gained 0.5% to 8,806.00.
India's Sensex added 1.2%.
Oil prices yo-yoed again on Friday as global oil supplies remained under
pressure due to a limited numbers of vessels able to cross the Strait of
Hormuz, a crucial waterway for energy transport.
Brent crude, the international standard, fell 0.5% to $75.94 per barrel. It
was trading near $72 a barrel before the war began in late February.
Benchmark U.S. crude shed 0.5% to $71.71 a barrel.
On Thursday, Wall Street's benchmark S&P 500 index rose 0.8% and the Dow
picked up 0.3%. The technology-heavy Nasdaq composite climbed 1.3% to 26,206.89.
Semiconductors stocks led gains. Micron Technology jumped 4.5% after the
memory chipmaker said it would increase its U.S. investments, citing "surging
demand for memory in the AI era."
Shares of AMD, or Advanced Micro Devices, surged 5.7%. Marvell Technology
rose 5%, while ON Semiconductor added 4.4%.
In other dealings early Friday, the U.S. dollar fell to 161.71 Japanese yen
from 162.37 yen. The euro was trading at $1.1432, up from $1.1430.
The yen gained against the dollar after Finance Minister Satsuki Katayama
told a parliamentary committee that the government plans to encourage big
pension funds to invest more in domestic, yen-denominated assets.
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