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Global Markets Rise on Monday on the Strength of Friday’s Boost Stocks Inch Higher as Investors Look to China-U.S. Trade Talks
(35 minutes later)
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. Stocks rose modestly on Monday, buoyed by the efforts of central bankers to ease economic worries, as investors watched for developments in trade talks between the United States and China. But trading was choppy. In Europe, stocks were higher in early trading but those gains faded as the day went on. Asian shares ended trading higher.
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. Trade negotiators from Washington and Beijing began talks aimed at reaching an agreement that would end a trade war between the two countries. The two countries have agreed to a standstill until early March so that they may reach a deal.
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. [Read more about how President Trump sees China’s recent economic weakness as an opportunity.]
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. As the trade war continues, however, investors have grown worried about its potential economic impact as well as the risk to corporate profits. Those worries were amplified last week when Apple warned that its sales in the most recent quarter would be worse than expected because of slowing demand for iPhones in China. And the rising cost of imports is also affecting businesses in the United States.
Japan’s Nikkei 225 index jumped 2.4 percent. Hong Kong’s Hang Seng Index closed 0.8 percent higher. [Read more about American factory owners who say the trade war is hurting them.]
In China, the Shanghai Composite Index rose 0.7 percent. The Shenzhen’s Composite Index rallied 1.7 percent. Offsetting those concerns, 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.
Taiwan’s Taiex index gained 2.2 percent, while South Korea’s Kospi index rose 1.3 percent. 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 Europe, Frankfurt’s DAX index opened 0.3 percent higher, while France’s CAC 40 index rose 0.4 percent The Nikkei 225 index in Japan jumped 2.4 percent, and the Hang Seng in Hong Kong closed 0.8 percent higher.
London’s FTSE 100 index was inched up 0.3 percent at the opening. In China, the Shanghai Composite index rose 0.7 percent, and the Shenzhen’s Composite index rallied 1.7 percent.
The Taiex index in Taiwan gained 2.2 percent, while South Korea’s Kospi index rose 1.3 percent.
By early afternoon, the Euro Stoxx 50 index of European blue chips was down about 0.5 percent and the FTSE 100, which had opened up about 0.3 percent, had slid close to 0.5 percent lower. The CAC 40 in France was down almost 0.6 percent, and the Dax in Germany was 0. percent lower.