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Global Markets Rise, but Enthusiasm Wanes Global Markets Rise on Monday on the Strength of Friday’s Boost
(about 1 hour later)
HONG KONG — Global markets rose on Monday, buoyed by the efforts of central banks in the United States and China to ease economic worries, but the positive mood faded as the opening on Wall Street neared. Global markets rose on Monday ahead of Wall Street’s opening, buoyed by the efforts of central bankers in the United States and China to ease economic worries.
Asian shares ended higher and European stocks opened up, following Friday’s stock market performance after several days of drops. But the enthusiasm faltered in Europe, where stocks pared their gains through the morning. Asian shares ended higher and European stock opened positive as well, following Friday’s stock market performance after several days of drops. Futures trading predicting how Wall Street will start the week also painted a bullish picture.
By late morning, the Euro Stoxx 50 index of European blue chips was down about 0.3 percent and the FTSE 100, which had opened up about 0.3 percent, had slid close to 0.3 percent. The CAC 40 in France was down almost 0.4 percent, and the Dax in Germany was 0.3 percent lower. On Friday, the United States Federal Reserve chairman Jerome H. Powell said that the Fed would be flexible amid market turbulence and broader concerns about slowing global growth. The comments sent shares in the United States higher, as did strong job numbers and the resumption of trade talks between the United States and China.
Futures trading predicted a mixed start to the week on Wall Street. Monday was also the first time that traders in Asia could react to a move last Friday by the People’s Bank of China to essentially inject $218 billion into the country’s financial system.
On Friday, the Federal Reserve chairman, Jerome H. Powell, said the Fed would be flexible amid market turbulence and broader concerns about slowing global growth. The comments sent shares in the United States higher, as did strong job numbers for the month of December and the resumption of trade talks between the United States and China. Japan’s Nikkei 225 index jumped 2.4 percent. Hong Kong’s Hang Seng Index closed 0.8 percent higher.
Monday was also the first time that traders in Asia could react to a move last Friday by the People’s Bank of China to essentially inject $218 billion into the country’s financial system through Jan. 25. The move by the central bank will ease lending for the Chinese economy, which has experienced weaker factory output and consumer confidence. In China, the Shanghai Composite Index rose 0.7 percent. The Shenzhen’s Composite Index rallied 1.7 percent.
The Nikkei 225 index in Japan jumped 2.4 percent, and t he Hang Seng in Hong Kong closed 0.8 percent higher. Taiwan’s Taiex index gained 2.2 percent, while South Korea’s Kospi index rose 1.3 percent.
In China, the Shanghai Composite index rose 0.7 percent, and the Shenzhen’s Composite index rallied 1.7 percent. In Europe, Frankfurt’s DAX index opened 0.3 percent higher, while France’s CAC 40 index rose 0.4 percent
The Taiex index in Taiwan gained 2.2 percent, while South Korea’s Kospi index rose 1.3 percent. London’s FTSE 100 index was inched up 0.3 percent at the opening.