World shares have surged following reports that China plans to spend billions of dollars to help rebuild the capital of state-run banks and provide other fiscal support for the economy.

Shares rolled higher in Asia on Thursday after U.S. stocks edged back from their records. Japan’s Nikkei 225 index gained more than 2% and U.S. futures and oil prices also advanced. The rally in Asia followed an announcement that the Chinese government plans to give cash handouts or discount vouchers to the poor ahead of next week's National Day holidays.

Wall Street is trading higher before the opening bell, following global markets that surged on reports that China plans to spend billions of dollars to help rebuild the capital of state-run banks and

Treasury yields ticked higher in the bond market after sinking the prior day on a surprisingly weak update on confidence among U.S. consumers. The worst drop in three years raised worries about the U.