China's CSI 300 Index jumped 7.4 percent, and Japan's Nikkei 225 Stock Average surged 5.8 percent. BHP Billiton Ltd.ArcelorMittal and ABB Ltd. added more than 13 percent in Europe.
The MSCI World Index increased 1.6 percent to 954.42 at 12:13 p.m. in London, trimming this year's drop to 40 percent. The International Monetary Fund predicts global growth will slow to 2.2 percent in 2009 from 3.7 percent this year, meaning a world recession under the fund's informal definition -- growth of 3 percent or less.
Europe's Dow Jones Stoxx 600 Index advanced 2.4 percent, and futures on the Standard & Poor's 500 Index climbed 2.1 percent. The MSCI Asia Pacific Index added 3.3 percent.
Emerging-market stocks, bonds and currencies gained. The MSCI Emerging Markets Index added 3.4 percent, with Russia's Micex Index climbing 7.1 percent and India's Sensitive Index adding 5.7 percent