Global Shares Surge on Hopes Federal Reserve’s Rate Hikes Are Done

A currency trader passes by the screens showing the Korea Composite Stock Price Index (KOSPI), (L), and the foreign exchange rate between U.S. dollar and South Korean won, (C), at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Nov. 2, 2023. Ahn Young-joon/AP Photo

TOKYO—Global shares were mostly higher Thursday after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy.

France’s CAC 40 rose 1.2 percent to 7,018.50. Germany’s DAX gained 1.1 percent to 15,084.21. Britain’s FTSE 100 climbed 1.0 percent to 7,417.45. The future for the Dow Jones Industrial Average was up 0.3 percent and that for the S&P 500 gained 0.5 percent.