LONDON - A decline in the number of new coronavirus cases in China boosted global stock markets on Wednesday.

A pan-European equity index rose 0.4 percent to test recent record highs and futures indicated a stronger open for Wall Street. Earlier, an MSCI index of Asian shares outside Japan rose 0.5 percent. Japan’s Nikkei index gained almost 1 percent, helped by the yen’s retreat.

Chinese stocks closed lower, with the benchmark Shanghai Composite Index down 0.32 percent, at 2,975.4 points.

Market fears still kept gold trading above US$1,600 an ounce and US 10-year Treasury yields some 35 basis points below where they started 2020.

The yield on three-month bills stood at 1.5949 percent, above the 10-year yield of 1.5661 percent.

Brent crude futures rose around 0.7 percent to US$58.12 a barrel.