US futures, world shares advance, led by tech stocks, after another week
of gains for Wall St
[November 03, 2025] By
ELAINE KURTENBACH
BANGKOK (AP) — World shares and U.S. futures advanced on Monday, with
South Korea’s market leading gains in Asia thanks to strong buying of
tech-related and shipbuilders' shares.
European benchmarks began the week with gains. Germany's DAX climbed
0.9% to 24,165.15, and the FTSE 100 edged 0.1% higher to 9,731.48. In
Paris, the CAC 40 was up 0.3% to 8,145.80.
The future for the Dow Jones Industrial Average was 0.1% higher, while
that for the S&P 500 gained 0.3%.
On Friday, Amazon led the U.S. stock market higher, gaining 9.6% after
it reported a much bigger profit than analysts had expected. The S&P 500
rose 0.3% and the Dow industrials gained 0.1%. The Nasdaq composite
gained 0.6% to 23,724.96.
Crude prices rose and then fell as the United Arab Emirates opened a
major oil summit Monday, just after the OPEC+ group of the cartel and
its allies announced they would halt planned production increases for
early 2026.
U.S. benchmark crude oil gave up its early gains, losing 23 cents to
$60.75 per barrel. Brent crude, the international standard, shed 21
cents to $64.56 per barrel.
In Asian trading, South Korea's Kospi jumped 2.8% to 4,221.87, yet
another record close. Computer chip maker SK Hynix's shares soared 11%,
helped by recent moves to team up with Nvidia in developing the
country's artificial intelligence infrastructure and capabilities.
Samsung Electronics, the country's biggest company, gained 3.4%.
South Korean shipbuilders also logged gains after China said it would
cancel added port fees on U.S.-invested or U.S. flagged vessels after
U.S. President Donald Trump met last week with Chinese leader Xi Jinping.
Japan’s markets were closed for a holiday.
Chinese markets also gained. Hong Kong's Hang Seng picked up 1% to
26,158.36.
Gains for technology shares were offset by declines for gold shops like
Chow Tai Food Jewellery Group. Its stocks dropped 8.7% after the Chinese
government reduced the amount of tax rebates on sales of the precious
metal. The rebates have been one factor behind a frenzy of gold
purchasing that has helped push its price to record levels recently.
However, Chinese buying is just one reason for the rally in gold prices.
Many investors have been investing in gold as a hedge against
uncertainties and that includes central banks. Early Monday, the price
of gold rose nearly 0.9% to $4,032.90 per ounce. But that's well below
its recent record levels of near $4,400 an ounce.
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Patrick King works on the floor at the New York Stock Exchange in
New York, Wednesday, Oct. 29, 2025. (AP Photo/Seth Wenig)
 A private sector measure of factory
activity, the RatingDog China General Manufacturing PMI, showed an
overall slowing of manufacturing in China, to 50.6 in October from
51.2 in September. That's on a scale from zero to 100 where 50 marks
a level of expansion.
The official PMI reading by the National Bureau of
Statistics, released Friday, likewise showed factory activity
slowing, to 49 last month from 49.8 in September.
The Shanghai Composite index rose 0.6% to 3,976.52.
Taiwan's benchmark Taiex picked up 0.4%.
There was no immediate or obvious reaction to Trump's assertion that
Chinese leader Xi had promised not to take any action against the
self-governed island of Taiwan, which Beijing claims as its
territory, while Trump is in office.
The long-contentious issue of Taiwan did not come up in Trump's
talks with Xi on Thursday in South Korea that largely focused on
U.S.-China trade tensions, Trump said. But in an interview with CBS’
program 60 Minutes that aired on Sunday, U.S. time, he expressed
certainty that China would not take action on Taiwan while he’s in
office.
This week will bring more earnings reports both in the United States
and elsewhere.
Companies are facing pressure to deliver big growth in profits to
justify the huge gains their stock prices have made since April and
counter worries that the U.S. stock market has become too expensive.
Investors have also appeared skeptical that President Donald Trump’s
trade truce with China would put an end to tensions between the two
countries.
In other dealings early Monday, the U.S. dollar rose to 154.15
Japanese yen from 153.05 yen. The euro climbed to $1.1518 from
$1.1533.
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