World Stocks Climb After Wall St. Rally11/26 04:47

   Shares in Europe and Asia advanced on Wednesday after benchmarks on Wall 
Street surged on hopes the Federal Reserve will soon opt to cut interest rates.

   BANGKOK (AP) -- Shares in Europe and Asia advanced on Wednesday after 
benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to 
cut interest rates.

   The future for the S&P 500 gained 0.3%, while that for the Dow Jones 
Industrial Average was up 0.2%.

   In early European trading, Germany's DAX gained 0.2% to 23,500.98, while the 
CAC 40 in Paris also rose 0.2%, to 9,623.22. Britain's FTSE 100 edged 0.1% 
higher.

   In Asia, Tokyo's Nikkei 225 rose 1.9% to 49,559.07 in a broad rally that 
encompassed major exporters and technology shares. However, shares in Kioxia 
dropped 14.9% on reports that Bain Capital plans to sell $2.3 billion of the 
computer memory maker's shares.

   In South Korea, the Kospi gained 2.7%, to 3,960.87, helped by a 3.5% gain 
for Samsung Electronics, the market's biggest heavyweight. Computer chip maker 
SK Hynix climbed 1%.

   Taiwan's Taiex surged 1.9%.

   Chinese markets were mixed.

   Hong Kong's Hang Seng rose 0.1% to 25,928.08 and the Shanghai Composite 
index slipped 0.2%, to 3,864.18.

   Chinese e-commerce and technology giant Alibaba fell 1.9%. Its U.S.-traded 
shares fell 2.3% on Tuesday after its profit fell short of forecasts, though it 
reported stronger revenue than analysts had expected for the latest quarter.

   Australia's S&P/ASX 200 climbed 0.8% to 8,606.50. In New Zealand, the 
S&P/NZX 50 added 0.6% after the central bank cut its official cash rate to 
2.25% from $2.5%.

   U.S. markets will have a shortened trading week due to the Thanksgiving 
holiday, closing on Thursday and opening for shorter hours on Friday.

   On Tuesday, the S&P 500 rose 0.9% and the Dow Jones Industrial Average 
rallied 1.4%. The Nasdaq composite gained 0.7%.

   Easier interest rates can give particularly big boosts to smaller companies, 
because many of them need to borrow to grow. The Russell 2000 index of the 
smallest U.S. stocks jumped 2.1% to lead the market.

   Mixed economic data left traders betting on a nearly 83% probability that 
the Fed will cut in December, according to data from CME Group.

   Shoppers bought less at U.S. retailers in September than economists 
expected, while confidence among U.S. consumers worsened by more in November 
than expected, signals the economy could use help from lower interest rates.

   Easier rates can boost the economy by encouraging households and companies 
to borrow more and investors to pay higher prices for investments than they 
would otherwise.

   Another report said U.S. inflation at the wholesale level was a touch worse 
in September than expected, but a closely tracked underlying trend was slightly 
better. Lower interest rates can worsen inflation, and higher prices are the 
main reason the Fed has been holding back on rate cuts.

   Later Wednesday, the U.S. was due to release more data that had been delayed 
by the six-week long government shutdown.

   The Fed has already cut rates twice this year in hopes of shoring up the 
slowing job market.

   In other dealings early Wednesday, U.S. benchmark crude oil gained 5 cents 
to $58.00 per barrel. Brent crude, the international standard, picked up 8 
cents to $61.88 per barrel.

   The U.S. dollar rose to 156.46 Japanese yen from 156.06 yen. The euro rose 
to $1.1575 from $1.1569.