Asian markets closed higher on Wednesday following the mostly positive cues overnight from Wall Street. Reports of positive China-US trade talks also boosted sentiment. Investors now look ahead to the Quebec gathering of G7 leaders, with world trade high on the agenda. Markets in South Korea were closed for Memorial Day holiday. In Australia, the local market finished the session firmly higher aided by rallies in mining and oil stocks.
European markets closed on a mixed note as trade continued to dominate the agenda with the European Commission saying it decided to impose tariffs on the full list of products from the United States which was notified to the World Trade Organization.
"The application of the rebalancing duties is fully in line with the WTO rules. It is a measured and proportionate response to the unilateral and illegal decision taken by the United States to impose tariffs on the European steel and aluminium exports, which we regret," Maros Sefcovic, vice-president of the European Union's executive arm, stated.
Market sentiment was also influenced by comments from European Central Bank's Chief Economist Peter Praet who said the Frankfurt-based institution will discuss next week how to wind down its 30 billion euro monthly-purchase program.
Across the Atlantic, U.S. stocks finished the trading session with gains lifted by a rally in bank shares and some industrial companies.
World Markets Headlines Today
Tech shares power Hong Kong market to gains (Nikkei Asian Review)
Sensex, Nifty extend gains ahead of RBI rate decision, auto, PSU bank stocks lead (Mint)
Australia: Commodity prices lift ASX (Australian Business Review)
European Shares Set To Open On Firm Note (RTT News)
Europe markets higher as trade developments linger, WH Smith up 4% (CNBC)
European markets are mixed today (CNN Money)
Dow gains 250 points, aims to retake 25,000 level as bank stocks power rally (Marketwatch)
U.S. Stocks Extend Advance as ECB Sinks Bonds (Bloomberg)
Dow Retakes 25,000, Nasdaq Hits Intraday High (The Street)
Gold edges up as dollar, treasury yields ease, US oil prices inch up on fall in local crude stockpiles (Reuters)
25 Major Markets Stock Indices Closing Data
All Continents Stock Indices Closing Data
Tokyo's Nikkei 225 was up 0.38% while Hong Kong's Hang Seng rose 0.53%. China's Shanghai Composite gained 0.05%. Seoul's Stock Exchange was closed for Memorial Day holiday. Mumbai's Sensex increased 0.79% while Nifty 50 was higher by 0.86%. Australia's ASX 200 finished the day 0.50% in the green Singapore's STI lost 0.44%. Jakarta's Composite decreased 0.31% and Taiwan's Weighted Index was up 0.92%.
The Paneuropean STOXX600 was unchanged. France's CAC fell 0.06%. London's FTSE was higher by 0.33%. Belgium's BEL 20 dropped 0.21%. Amsterdam's AEX fell 0.10%. Moscow's IMOEX decreased 0.12%.
In Southern Europe, Lisbon's PSI20 was up 0.26% while Spain's IBEX 35 was higher by 1.09% and Italy's FTSE MIB grew 0.26%. In Scandinavia, Stockholm's Stock Exchange was closed for National Day holiday while Copenhagen's OMXC25 moved downward 0.69%. Helsinki's OMXHPI finished the day 0.17% in the green.
In Central Eastern Europe, Budapest's BUX rose 1.31% while Warsaw's WIG ticked down 0.01%. Prague's PX was unchanged and Bratislava's SAX grew 0.14%. Tallinn's OMXT was higher by 0.28% while Riga's OMXR decreased 0.09%. In Vilnius, the OMXV was up 0.29%.
In South Eastern Europe, Bucharest's BET was up 0.47% while Sofia's Sofix rose 0.06%. Belgrade's Belex 15 fell 0.30%. Podgorica's MNSE10 advanced 0.75%. Sarajevo's SASX10 ticked up 0.01% while Banja Luka's BIRS was unchanged. Ljubljana's SBI Top was higher by 0.74%. Zagreb's Crobex was lower by 0.71%. In Skopje, the MBI10 was up 1.27%. Istanbul's BIST100 fell 1.19%. In Athens, the General Index dropped 1.05% while in Nicosia finished the day 0.46% in the hole.
Botswana's DCI was off 0.28% while Dar Es Salaam's ASI advanced 1.08%.
Egypt's EGX 30 lost 0.71%. Johannesburg's ASI was up 0.52%. Lusaka's ASI fell 0.13%. Casablanca's MASI was higher by 0.18%. Malawi's ASI ticked up 0.02%. Nigeria's ASI grew 1.53%.
Nairobi's ASI increased 1.63%. Namibia's Overal Index dropped 0.48%. Rwanda's ASI ticked up 0.02%. Mauritius' SEMDEX rose 0.09%. Tunisia's TUNINDEX was up 0.25%.
Uganda's ASI surged 9.77% and Zimbabwe's Industrial Index grew 1.32%.
In Canada, the S&P TSX Composite was up 0.38%. In the U.S., the Dow Jones advanced 1.40% while the S&P 500 gained 0.86%. The Nasdaq rose 0.67%.