Shares Rise as Bank Support Emboldens Investors
LONDON—Global shares rose on Wednesday, as investors took heart from a greater degree of stability in the banking sector, but the sense of optimism wasn’t robust enough to severely knock safe-haven assets like bonds or gold.
Meanwhile, shares in Asia rallied on Wednesday after Chinese conglomerate Alibaba’s plans to split into six units lifted tech stocks.
The sale of assets in Silicon Valley Bank (SVB), the regional lender that collapsed earlier this month, has helped prop up investor risk appetite. Certain measures of market stress have eased, which has given equities, cryptocurrencies, and commodities a boost in the last couple of weeks….