World shares mixed as traders pin hopes on rate cut by Fed

Bangkok: World shares and US futures were mixed on Monday after Wall Street was buoyed by revived hopes for an interest rate cut by the Federal Reserve. The future for the S&P 500 was up 0.2 per cent while that for the Dow Jones Industrial Average was nearly unchanged.

Germany’s DAX gained 0.5 per cent to 23,201.85, while the CAC 40 edged less than 0.1 per cent lower to 7,978.77. Britain’s FTSE 100 inched up 0.1 per cent to 9,547.77.

Markets in Japan were closed for a holiday. Hong Kong’s benchmark, the Hang Seng, rose 2 per cent to 25,716.50. It got a boost from a 4.7 per cent gain for e-commerce giant Alibaba, which has reported strong demand for its updated Qwen AI app.