Global stocks rise after diplomatic overtures by Koreas, US

Global shares rose Tuesday as both Koreas and the US signaled a willingness to defuse the crisis over North Korea’s nuclear program. A rally on Wall Street led by gains in technology shares also helped.

KEEPING SCORE: France’s CAC 40 added 0.2 percent to 5,132.11 in early trading, while Germany’s DAX also rose 0.2 percent to 12,187.97. Britain’s FTSE 100 edged up 0.2 percent to 7,371.17. U.S. shares were set for gains, with Dow futures up 0.2 percent to 22,004.00. S&P 500 futures rose 0.2 percent to 2,467.90.

ASIA’S DAY: Japan’s benchmark Nikkei 225 gained 1.1 percent to finish at 19,753.31. Australia’s S&P/ASX 200 added 0.5 percent to 5,757.50. South Korea’s markets were closed for a national holiday. Hong Kong’s Hang Seng slipped 0.3 percent to 27,174.96, while the Shanghai Composite index was up 0.4 percent at 3,251.26. Shares in Southeast Asia were mostly higher.

NORTH KOREA: North Korea said Tuesday leader Kim Jong Un was briefed on his military’s plans to launch missiles into waters near Guam. But the comments also appeared to signal a path to defuse the deepening crisis with Washington, holding out the possibility that friction could ease if the U.S. made some gesture that Pyongyang considered a move to back away from previous “extremely dangerous reckless actions.”

THE QUOTE: “Investors have once again stepped in, in search of returns, as the tensions surrounding North Korea seemingly dissipated. While the clearance of event risk remains a debate, it certainly does clear the air for other key event to shape market in the latter half of the week,” Jingyi Pan of IG said in a commentary.

ENERGY: US crude oil lost 1 cent to $47.58 a barrel. It lost $1.23 to $47.59 a barrel in New York Monday. Brent crude, the international standard, slipped 4 cents to $50.69 a barrel in London.

CURRENCIES: The dollar rose to 110.36 yen from 109.57 yen late Monday in Asia. The euro fell to $1.1756 from $1.1816.


This story has been corrected to say South Korean markets were closed Tuesday.


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