World Shares Up as the US Debt Ceiling Concerns Eased

On Thursday, the world shares traded higher as concerns about the US debt ceiling alleviated.

Accordingly, American Senate Minority Leader Mitch McConnell proposed a short-term debt ceiling suspension to avert the possible state default.

Consequently, this could give the government more time to pass a permanent solution before the end of the year. 

Then, economists noted that the default could result in an economic calamity, significantly affecting world shares. 

Meanwhile, Chinese tech giants led the gains in the Asia-Pacific region.

Subsequently, Alibaba, known as the Amazon of China, rocketed 5.75% or 1.01 points to $18.65 per share. 

Similarly, Tencent, an internet-based platform popular with gaming services, boosted 3.76% or 2.16 points to $59.49 per share. 

Moreover, the Hang Seng index surged 2.39%, or 572.01 points to $24,538.50 per share. 

In Japan, the benchmark Nikkei 225 increased 0.68% or 186.11 points to $27,714.98 per share. 

Correspondingly, the TOPIX index added 0.01% or 0.10 points to $1,942.01 per share. 

In South Korea, the KOSPI strengthened 1.59% or 46.27 points to $2,954.58 per share.

It is the same with Australia’s S&P/ASX 200 index, as it improved 0.70% or 50.20 points to $7,256.70 per share. 

Elsewhere, Chinese markets remained closed in line with the golden week holiday. 

Moreover, US Stocks posted gains in the after-hours trading. 

Accordingly, the Nasdaq Composite index rose 0.47% or 68.08 points to $14,501.91 per share.

At the same time, the benchmark S&P 500 elevated 0.41% or 17.83 points to $4,363.55 per share. 

Then, the Dow Jones Industrial Average index climbed 0.30% or 102.32 points to $34,416.99 per share.

European Market Up as World Shares Hiked

Furthermore, shares in the European market opened higher amid the hike of world shares. 

In Paris, the CAC 40 index inched up 1.08% or 69.85 points to $6,562.97 per share. 

Consequently, London’s FTSE All-Share index extended 0.84% or 33.41 points to $4,028.78 per share. 

Then, the FTSE 100 index amplified 0.82% or 57.48 points to $7,053.35 per share. 

In Germany, the MDAX Performance index widened by 0.65% or 216.05 points to $33,509.24 per share. 

At the same time, the DAX 40 index increased 1.15% or 171.47 points to $15,144.80 per share. 

Altogether, the MSCI World index edged up 0.26% or 7.87 points to $3,023.81 per share. 

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