World Shares Mostly Higher Wednesday   05/27 05:24

   Shares were mostly higher in Europe and Asia on Wednesday and oil prices 
fell after the U.S. stock market rose to more records.

   (AP) -- Shares were mostly higher in Europe and Asia on Wednesday and oil 
prices fell after the U.S. stock market rose to more records.

   In early European trading, Germany's DAX gained 0.7% to 25,359.59, while the 
CAC 40 in Paris added 0.5% to 8,215.74. Britain's FTSE 100 slipped 0.1% to 
10,484.65.

   The future for the S&P 500 edged 0.1% higher while that for the Dow Jones 
Industrial Average gained 0.2%.

   The boom in artificial intelligence drove heavy buying of computer 
chipmakers and other technology companies after the latest rally on Wall 
Street, led by a 19.3% gain for Micron Technology. It was the strongest force 
lifting the S&P 500 on Tuesday after analysts at UBS led by Timothy Arcuri 
raised their 12-month price target for the stock to $1,625 from $535. Micron 
closed at $895.88.

   In Tokyo, the Nikkei 225 also initially was lifted by gains for tech-related 
shares given but closed nearly unchanged at 64,999.41. It topped 66,000 earlier 
in the day.

   Computer chip equipment maker Tokyo Electron's shares rose 2.1% and testing 
equipment maker Advantest gained 4.1%.

   Analysts are forecasting continued strength in demand for computer memory 
and that has been pushing share prices in South Korea and Taiwan to records 
this year.

   The Kospi in Seoul gained 2.3% to 8,228.70, as Samsung Electronics' shares 
gained 2.3%.

   In Taiwan, the Taiex surged 1.7%.

   Elsewhere in Asia, Hong Kong's Hang Seng lost 1.1% to 25,328.23 and the 
Shanghai Composite index shed 1.3% to 4,093.73.

   Australia's S&P/ASX 200 picked up 0.7% to 8,717.70 and in India the Sensex 
fell 0.1%.

   On Tuesday, U.S. stocks rose to records as the S&P 500 climbed 0.6% after 
trading resumed following Monday's Memorial Day holiday. The Nasdaq composite 
rallied 1.2% and the Dow industrials dipped 0.2%.

   U.S. stocks were catching up with climbs for others around the world the day 
before, when President Donald Trump said negotiations with Iran on ending the 
war were "proceeding nicely."

   "It looks like geopolitical tensions are no longer bothering investors as 
much as they did in previous weeks. Iran's explicit dissatisfaction regarding 
the progress in talks over its nuclear program --- or even US strikes --- 
didn't reverse hopes that the war will end soon," Ipek Ozkardeskaya of 
Swissquote said in a commentary.

   Markets have rallied on hopes for a swift end to the war, but the situation 
remains unclear as fighting has continued in the region.

   Oil prices have been at the center of financial markets' action since the 
United States and Israel attacked Iran in late February. The ensuing war has 
closed the Strait of Hormuz and kept oil tankers pent up in the Persian Gulf 
instead of delivering crude to customers worldwide. That in turn has driven up 
oil's price and sent a wave of painful inflation around the world.

   U.S. households have been feeling discouraged about the economy because of 
accelerating inflation, and a report on Tuesday said consumer confidence edged 
downward in May, though the number was not as bad as economists expected. It 
followed a report on Friday that said sentiment among U.S. consumers hit its 
lowest level on record.

   Early Wednesday, the price for a barrel of Brent crude, the international 
standard, fell $3 to $93.89 a barrel. The price for a barrel of U.S crude oil 
fell $2.94 to $91.89.

   Lower oil prices helped pull yields down in the U.S. bond market, which 
eased the pressure on Wall Street. The yield on the 10-year Treasury fell to 
4.47% from 4.56% late Friday.

   The U.S. dollar rose to 159.33 Japanese yen from 159.30 yen. The euro rose 
to $1.1644 from $1.1631.