Banking support and Alibaba boost Asian stocks.
TL;DR
Global shares rose as stability in the banking sector emboldened investors, but safe-haven assets like bonds and gold remained steady. Shares in Asia rallied after Alibaba's plans to split into six units lifted tech stocks. The MSCI All-World index rose 0.3%, while European shares gained 0.92%, thanks in part to a rise in bank shares after UBS said it would rehire Sergio Ermotti to lead the company after its takeover of Credit Suisse. Oil rose for a third straight day, while gold dipped.
- Shares rise as bank support emboldens investors Reuters
- Asian stocks rally as banking anxiety eases; Alibaba surges Yahoo Finance
- Asian stocks rise as bank fears ease, Alibaba boosts Hang Seng By Investing.com Investing.com
- Morning Bid: Bank fears ease but yields curb investors' enthusiasm Reuters
- Alibaba revamp plan lifts tech stocks in Hong Kong, pushes index past 20,000 South China Morning Post
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