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Global Markets Rise as Traders Bargain Hunt

The dollar and world shares edged higher on Wednesday, clawing back some of the previous day's steep losses as investors sought out bargains with one eye on central bank stimulus.Concerns about the U.S Federal Reserve's tapering its bond-buying programme and the Bank of Japan's commitment to its monetary stimulus sparked a broad sell-off of stocks, bonds and commodities on Tuesday.The dollar, which chalked up its biggest one-day fall against the yen since May 2010 in the selloff, recovered on Wednesday by about 0.5 percent to trade around 96.50 yen.The euro fell 0.25 percent against the dollar. European Central Bank Executive Board member Peter Praet said on Tuesday the ECB had room to cut interest rates furtherEuropean shares led the gradual recovery in global equity markets after another volatile session in Asia saw MSCI's broadest index of Asia-Pacific shares outside Japan drop 0.4 percent to a 6-1/2-month low.The selloff was seen drawing some buyers back into the markets, and with ...

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