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Global stocks follow Wall Street higher after U.S Federal Reserve pledge

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Global stock markets followed Wall Street higher Thursday after the Federal Reserve chairman said the U.S. central bank is in no hurry to withdraw support for the economy.

London and Frankfurt rose in early trading. Shanghai, Tokyo, Hong Kong and Seoul closed higher. U.S. futures were mixed.

On Wall Street, the future for the benchmark S&P 500 index was off less than 0.1% while that for the Dow Jones Industrial Average rose 0.2%.In Asia, the Shanghai Composite Index rose 0.6% to 3,585.04 and the Nikkei 225 in Tokyo gained 1.7% to 30,168.27. Sydney's S&P-ASX 200 was 0.8% higher at 6,834.00 and India's Sensex gained 0.8% to 51,181.85. New Zealand retreated while Southeast Asian markets advanced.

The central bank earlier indicated it would let the economy "run hot" to make sure a recovery is well-established following the deepest slump since the 1930s. Powell said it might take more than three years to hit the Fed's target of 2% inflation.

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