Global stock markets rose Wednesday, with some Asian indices reaching record heights, as expectations of more cuts to US interest rates offset escalating geopolitical tensions.

The dollar steadied ahead of US inflation figures Wednesday that are set to play a part in guiding Federal Reserve decision-making on rates for the rest of the year.

Tokyo's stock market ended at an all-time high, as did Seoul where South Korean traders were hopeful the government will not implement plans to lower the capital gains tax threshold for stocks.

Wall Street indices had rocketed to fresh highs Tuesday as markets digested weak US jobs data that added to expectations of lower American borrowing costs.

In Europe, the Paris CAC 40 gained in early afternoon trading as France welcomed a new prime minister.

See Full Page