Global Stocks Higher Friday

BEIJING (AP) -- Global stocks rose Friday after Wall Street hit a new high and a survey showed Japanese manufacturing accelerating.

KEEPING SCORE: In early trading, London's FTSE 100 index rose 0.9 percent to 7,433.44 points and Germany's DAX gained 0.7 percent to 12,415.22. France's CAC 40 advanced 0.7 percent to 5,492.04. On Thursday, the CAC 40 rose 1.1 percent, the DAX gained 0.9 percent and the FTSE 100 added 0.5 percent. On Wall Street, the future for the Dow Jones industrial average rose 0.2 percent and that for the Standard & Poor's 500 index was up 0.1 percent.

ASIA'S DAY: The Shanghai Composite Index rose 2.5 percent to 2,797.48 and Tokyo's Nikkei 225 advanced 0.8 percent to 23,869.93. Hong Kong's Hang Seng gained 1.7 percent to 27,869.93 and Seoul's Kospi was up 0.7 percent at 2,339.17. Sydney's S&P-ASX 200 added 0.4 percent to 6,194.60 while India's Sensex shed 1.6 percent to 36,512.26. Benchmarks in New Zealand, Taiwan and Southeast Asia also advanced.

WALL STREET: The Dow and S&P 500 set records as a wave of buying pushed prices higher. Technology stocks, banks and health care companies accounted for much of the rally. Energy companies declined along with crude oil prices. The S&P 500 rose 0.8 percent. The Dow and the Nasdaq composite both added 1 percent.

ANALYST'S TAKE: "The resilience in the U.S. market is evident here and the breakout further renews the momentum," Jinyi Pan of IG said in a report. Still, "warning signs are abundant" amid U.S.-Chinese trade tensions, Pan said. "Cautiousness in the form of stop losses may be ever so important with the uncertainty in post-tariffs exchanges lingering into next week."

TRADE TENSION: The latest U.S. tariff hike on Chinese goods in a dispute over Beijing's technology policy takes effect Monday, when Washington imposes an additional 10 percent tax on $200 billion of imports. The tariffs will rise to 25 percent on Jan 1. Beijing announced it would retaliate by imposing tariffs of 5 or 10 percent on $60 billion of U.S. goods including coffee, honey and industrial chemicals.

JAPANESE MANUFACTURING: A preliminary version of Japan's monthly purchasing managers' index showed factory activity accelerated in September. The PMI rose to a three-month high of 52.9 from August's 52.5 on a 100-point scale. The measure of new export orders rose to a four-month high.

ENERGY: Benchmark U.S. crude fell 12 cents to $70.43 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 55 cents on Thursday to close at $70.32. Brent crude, used to price international oils, advanced 30 cent to $78.52 per barrel in London. It tumbled 70 cents the previous session to $78.22.

CURRENCY: The dollar gained to 112.73 yen from Thursday's 112.46 yen. The euro was unchanged at $1.1778.

(BE)