Global stocks stage a rally as American markets take the day off

BANGKOK (AP) — Shares advanced Friday in Europe and Asia after the Dow Jones Industrial Average set another record, as some key AI related stocks rose while others extended losses. Futures for the S&P 500 gained 0.4% while that for the Dow was up 0.2%. U.S. markets will be closed Friday for the Independence Day holiday. In early European trading, Germany’s DAX rose 0.7% to 52,643.30 and the CAC 40 in Paris gained 0.3% to 8,497.30. Britain’s FTSE 100 picked up 0.4% to 10,689.77. During Asian trading, South Korea’s Kospi, which sank nearly 8% on Thursday, gained 5.8% to 8,088.34. Samsung Electronics, the country’s biggest company and a major maker of computer chips, gained 8.2%, while its smaller rival SK Hynix jumped 10.9%. In Tokyo, the Nikkei 225 advanced 1.5% to 69,744.07. Chipmaker Tokyo Electron rose 0.4%, while memory maker Kioxia jumped 9.2%. Hong Kong’s Hang Seng climbed 1.3% to 23,345.28 and the Shanghai Composite index added 0.4% to 4,043.64. Taiwan’s Taiex edged 0.1% higher, while the Sensex in India jumped 0.7%. In Australia, the S&P/ASX 200 picked up 1.4% to 8,844.40. “Asian stocks found some footing after two bruising tech-led sessions, with the Korean market once again showing how quickly a stretched rubber band can snap back when everyone leans the same way,” Stephen Innes of SPI Asset Management said in a commentary. On Thursday, most U.S. stocks rose as the Dow snagged another record, gaining 1.1% to 52,900.07. Drops for computer chip companies and other winners of the artificial-intelligence boom kept indexes mixed. The S&P 500 finished the day virtually unchanged and edged up by less than 0.1%, even though seven out of every 10 stocks within the index rose. It closed at 7,483.24. The Nasdaq composite dropped 0.8% to 25,382.67. Stocks broadly got some help from a report showing U.S. employers added 57,000 jobs to their payrolls last month. That’s good for the economy, but it was also short of the 100,000 jobs tha