World stocks gain on China stimulus hopes

World stock markets mostly rose on Friday as expectations grew that China will move to counter its economic slowdown. European markets opened on an upbeat note, with Britain's FTSE 100 adding 0.4 per cent to 6,611.36. Germany's DAX index jumped 0.7 per cent to 9,512.57, while France's CAC 40 rose 0.3 per cent to 4,393.37. Futures augured gains on Wall Street. Dow futures rose 0.3 per cent to 16,223 and S&P 500 futures gained 0.3 per cent to 1,846.70. In Asia, window dressing ahead of the fiscal year's end helped Japanese shares rebound from early losses after the government reported household spending fell in February, suggesting consumer demand is not rising as much as expected ahead of an April 1 sales tax hike. Japan’s Nikkei 225 gained 0.5 per cent to close at 14,696.03. South Korea’s Kospi rose 0.2 per cent to 1,981. Expectations have been rising for more stimulus in China as growth has slowed to its weakest since the financial crisis. Officials have set a target of 7.5 percent economic growth this year but are more concerned about ensuring sufficient new jobs are created than precisely meeting the GDP figure. Hong Kong's Hang Seng index rose 1.1 per cent to 22,065.53. The Shanghai Composite fell 0.2 per cent to 2,041.71 as major banks reported profits in line with analysts' forecasts, according to AP.