World stocks hit record high as techs lead relief rally

TOKYO - The world's shares hit a record high on Friday as a relief over de-escalation of US-Iranian tensions quickly prompted investors to bet on faster global growth, especially in the technology sector.

The S&P 500 gained 0.67 per cent, with its technology sector rising more than 1 per cent. Apple gained 2.1 per cent, helped by news that sales of its iPhones in China in December jumped more than 18 per cent year on year. Global shares quickly erased losses that followed missile attacks from Iran targeting US forces in Iraq, as the two countries moved to defuse the tension.

Waning worries about all-out war in the Middle East pushed down gold, safe-harbour currencies and oil.

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