ALBAWABA – Stocks worldwide were mixed today, Monday, as markets anticipated US inflation readings expected to come out later this week, as higher readings could push the United States (US) Federal Reserve (Fed) to hike US interest rates again.
Tokyo, Hong Kong, Shanghai, Taipei, Bangkok and Jakarta were up but Seoul, Sydney, Mumbai, Manila and Wellington retreated, according to Agence France-Presse (AFP).
Meanwhile London, Frankfurt and Paris rose at the open.
Equity benchmarks in Japan, South Korea and China traded within narrow ranges, Bloomberg reported, while a region-wide stock gauge was flat after trading 0.5 percent higher earlier in the session.
Euro Stoxx 50 futures were little changed and those for the S&P 500 index fell 0.4 percent, partly retracing a 1.6 percent gain Friday. Markets are closed in Singapore and Malaysia for a holiday.
The Stoxx 600 index climbed 0.5 percent, with sentiment buoyed by Friday’s gains on Wall Street, according to Bloomberg.
The US dollar slipped slightly as stocks worldwide diverged on anticipation of upcoming economic data from the US - Shutterstock
Health stocks were among the strongest performers, with Novo Nordisk A/S rallying after a study backed the use of Wegovy, its blockbuster weight-loss drug, to cut heart attacks and deaths in obesity patients with a history of heart disease.
The yen fell to a fresh 2023 low against the dollar Monday, raising concerns that authorities will intervene to support the currency.
Meanwhile, markets are on the lookout for the issuance of key US inflation data this week, with the Consumer Price Index (CPI) on the forefront, along with the retail sales gauge.
More so, oil prices also slipped on Monday, continuing a three-week falling streak.
Contrary to the usual, prices are down across the board, encompassing gold and other commodities, stocks and the US dollar, the Bloomberg index for which has pointed to a 0.07 percent decline, to 105.7910.
Usually, when the dollar slips, gold and oil prices rise, but this time demand concerns outweighed both supply and purchasing parity worries.
Stocks Worldwide: Markets Summary by AFP and Bloomberg
S&P 500 futures fell 0.5 percent as of 2:46 p.m. Tokyo time
Nasdaq 100 futures fell 0.5 percent
Japan’s Topix was little changed
Euro Stoxx 50 futures rose 0.2 percent
Tokyo - Nikkei 225: UP 0.1 percent at 32,585.11 (close)
Hong Kong - Hang Seng Index: UP 1.3 percent at 17,426.21 (close)
Shanghai - Composite: UP 0.3 percent at 3,046.53 (close)
London - FTSE 100: UP 0.3 percent at 7,384.64
Dollar/yen: UP at 151.74 yen from 151.47 yen on Friday
Euro/dollar: UP at $1.0693 from $1.0686
Pound/dollar: UP at $1.2240 from $1.2224
Euro/pound: UP at 87.40 pence from 87.39 pence
New York - Dow: UP 1.2 percent at 34,283.10 (close)
The euro was little changed at $1.0685
The Japanese yen fell 0.2 percent to 151.78 per dollar
The offshore yuan was little changed at 7.3095 per dollar
The Australian dollar was little changed at $0.6364
The British pound was little changed at $1.2229
