Global Stocks Higher on Hopes US Rate Hike Plans Will Ease

Currency traders work near screens showing the Korea Composite Stock Price Index (KOSPI) (L) and the foreign exchange rate between the U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, on Oct. 26, 2022. Lee Jin-man/AP Photo

BEIJING—Global stock markets mostly gained Wednesday on hopes the Federal Reserve might ease off plans for interest rate hikes, while London opened lower after Britain installed its third prime minister this year amid an economic crisis.

Other European markets gained. Shanghai, Tokyo, and Sydney closed higher. The euro edged above $1.