Global shares were mostly higher Tuesday as hopes continued for a U.S. Federal Reserve interest rate hike later this year.
KEEPING SCORE: France's CAC 40 added 0.4 per cent to 4,441.93 and Germany's DAX rose 0.7 per cent to 10,621.31. Britain's FTSE 100 inched down less than 0.1 per cent to 6,834.22. U.S. shares were set to stay little changed. Dow futures inched up 0.03 per cent to 18,495, while S&P 500 futures were down 0.02 per cent to 2,178.90.
ASIA'S DAY: Japan's benchmark Nikkei 225 was down less than 0.1 per cent, to close at 16,725.36. South Korea's Kospi added 0.4 per cent to 2,039.74. Hong Kong's Hang Seng rose 0.9 per cent to 23,028.02, while the Shanghai Composite inched up 0.2 per cent to 3,074.68.
FED FACTOR: Major U.S. banks posted solid gains on Wall Street as traders bet that the Fed was likely to nudge interest rates higher in December or even at its next policy meeting in September. Federal Reserve Chair Janet Yellen told a conference last week that the case for raising rates was strengthening given improvements in the economy.
THE QUOTE: "The Federal Reserve's rate-hike decision is largely based on three main indicators: the performance of the labour market, economic activity and inflation. In light of strong jobs reports over the last two months, the likelihood of an impending rate hike has substantially increased," said Margaret Yang Yan, market analyst at CMC Markets Singapore.
JOBS DATA: Global markets are awaiting the U.S. Labor Department monthly jobs data, being released Friday, for signs on whether a U.S. recovery is on solid footing. Data on Japan released Tuesday showed an improvement in unemployment, but worries about growth momentum remain.
ENERGY: Benchmark U.S. crude oil rose 10 cents to $47.08. It had fallen 66 cents to $46.98 a barrel Monday. Brent crude, used to price oil internationally, fell 1 cent to $49.44 a barrel.
CURRENCIES: The dollar rose 102.33 yen from 102.21 yen late Monday. The euro was slightly lower at $1.1174 from $1.1177.
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