A currency trader works near the screens showing the Korea Composite Stock Price Index , center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, March 29, 2023. Asian stocks were mixed Wednesday as anxiety about the global financial system began to fade following three high-profile bank failures.
In early trading, the FTSE 100 in London rose 0.7% to 7,533.61. The DAX in Frankfurt advanced 0.7% to 15,242.25 and the CAC 40 in Paris gained 1.1% to 7,168.69. On Wall Street, the future for the benchmark S&P 500 index was up 0.9%. That for the Dow Jones Industrial Average added 0.7%. On Tuesday, the S&P 500 dipped 0.2%. Most stocks in the index gained, but that was offset by big declines for some banks and modest losses for tech shares.In Asia, the Shanghai Composite Index lost 0.2% to 3,240.05 while the Nikkei 225 in Tokyo advanced 1.3% to 27,883.78.
The Hang Seng in Hong Kong jumped 2.1% to 20,192.40 after Chinese e-commerce giant Alibaba Group announced plans to split into six business units in an effort to become more agile and unlock value for investors. It said they would include e-commerce, entertainment and logistics.India's Sensex gained 0.5% to 57,883.28. New Zealand declined while Southeast Asian markets rose.
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