Stock market today: Wall Street closes its best week of the year with even more gains
Asian shares have advanced following Wall Street gains last week that were buoyed by hopes for early interest rate cuts
By ZIMO ZHONG
Published - Nov 05, 2023, 11:51 PM ET
Last Updated - Nov 06, 2023, 05:59 AM EST
HONG KONG (AP) — Asian shares advanced Monday following Wall Street gains last week that were buoyed by hopes for early interest rate cuts.
U.S. futures were higher and oil prices gained as the Israeli military announced late Sunday that it had encircled Gaza City and cut the besieged coastal strip in two, fueling investors’ fears of a deepening conflict.
South Korean stocks surged 4.2% to 2,469.21, after the government restored a ban on short-selling, aiming to prevent illegal use of the trading tactic that is often used by hedge funds and investors. Short-selling refers to selling borrowed shares to profit from price declines.
Japan’s Nikkei 225 index gained 2.4% to 32,720.52.
