TOKYO - World stock markets mostly rose Tuesday, with Tokyo closing at a seven-year high on renewed weakness in the yen, as investor sentiment got a boost from another record close on Wall Street.
France's CAC 40 added 0.3 percent to 4,236.06 and Germany's DAX rose 0.4 percent to 9,384.91. Britain's FTSE 100 inched up 0.2 percent to 6,623.13. Futures augured further gains on Wall Street after Monday's new highs. Dow and S&P futures were both up 0.2 percent.
"Investors reflected on sound corporate earnings and an encouraging macro environment," said Will Leys, sales trader at CMC Markets in Sydney. "The likelihood of low rates for the near term, combined with improving sentiment and low commodity prices, is currently offsetting concerns over the global growth outlook."
Investors in Asia are looking to the release of revised Japanese July-September gross domestic product data from Japan next week. Prime Minister Shinzo Abe has said an indication of economic health is key in determining whether he will again raise the sales tax next year. Japan's economy took a hit when the sales tax was increased in April. But signs about the U.S. economy have been positive recently. Reports last week showed that U.S. manufacturing continued to expand and hiring remained healthy.
Japan's Nikkei 225 added 2.1 percent to 17,124.11, closing above 17,000 for the first time since October 2007, as a weakening yen added to optimism about the market's prospects. Hong Kong's Hang Seng rose 0.3 percent to 23,808.28 but China's Shanghai Composite lost 0.2 percent to 2,469.67. Australia's S&P/ASX 200 inched down 0.1 percent to 5,517.10 while markets in New Zealand and Southeast Asia rose.
Benchmark U.S. crude was down 77 cents to $76.64 a barrel in electronic trading on the New York Mercantile Exchange. It fell $1.25 to close at $77.40 on Monday.
The dollar rose to 115.81 yen from 114.94 yen late Monday. In late October, the dollar was buying about 108 yen but the Japanese currency has weakened considerably since then, driven lower by the Bank of Japan expanding its already lavish monetary stimulus. The euro slipped to $1.2412 from $1.2425.