Global shares were mostly higher Wednesday while Chinese benchmarks surged ahead of a decision by the US Federal Reserve on an interest rate increase to curb inflation.
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France's CAC 40 added 0.5% in early trading to 6,360.80. Germany's DAX edged up 0.2% to 13,365.98. Britain's FTSE rose 0.2% to 7,199.25. The future for the Dow industrials edged 0.2% higher, while the contract for the S&P 500 gained 0.3%.
Chinese shares extended gains, driven by speculation Beijing might be preparing to gradually relax stringent COVID-19 restrictions. Since that was not followed by any official confirmation, the enthusiasm could quickly fade.
The Fed was due to begin a two-day policy meeting Wednesday that's expected to yield its sixth interest rate increase of the year as the central bank fights the worst inflation in four decades. The widespread expectation is for the Fed to push through another increase that's triple the usual size, or three-quarters of a percentage point.
