Global equities mixed in calm year-end trading | Economic news
By ELAINE KURTENBACH, AP Business Writer
BANGKOK (AP) – Major global equity benchmarks were mixed at the start of the last trading week of the year as countries grapple with the spread of the omicron coronavirus variant.
The benchmarks were stable Monday morning in Paris and Frankfurt and fell in Shanghai, Bangkok, Tokyo and Seoul. Taiwan and India were higher. London and some other markets have been closed for the holidays.
Comments from the Central Bank of China, or People’s Bank of China, over the weekend on support for the slowing economy highlighted differences in positions among countries trying to balance support for the recovery. economic post-pandemic with measures to control inflation.
The Federal Reserve is one of a handful of central banks that already started cutting interest rates or cutting back on the additional support they provided when the pandemic first hit global economies in early 2020 .
“Divergences in global monetary policy are expected to widen as the new year approaches, especially after the PBOC’s announcement that it will remain ‘proactive’ in its use of monetary policy tools,” said the PBOC. Mizuho Bank in a comment.
âWith the increase in Omicron cases across China, pushing regions to tighten down closures and social restrictions, the case for further support for growth is becoming clearer,â a- he declared.
The German DAX edged up 0.1% to 15,764.98 and the CAC 40 in Paris slipped 0.1% to 7,083.67. London was closed for the holidays. The future of the S&P 500 advanced 0.1% to 4,721.50. The future for Dow Industrials was virtually unchanged at 35,826.00.
In Asian trade, the Shanghai Composite Index edged down 0.2% to 3,615.97, while Thailand’s SET index rose less than 0.1%.
Tokyo’s Nikkei 225 index lost 0.4% to 28,676.46 and Seoul’s Kospi fell 0.4% to 2,999.55. The Indian Sensex gained 0.1% to 57,189.09.
Markets meandered after a mixed day of calm trading on Friday, when many markets around the world closed or ended early for Christmas.
Last week, the S&P 500 set a new record as fears faded over the potential impact of omicron outbreaks. However, much is still unclear about the variant, which is spreading extremely quickly, leading to a return to pandemic restrictions in some locations.
Hundreds of flights were canceled in the United States over the holiday weekend, with airlines reporting staff issues related to COVID. France has reported more than 100,000 new cases in a daily record.
Authorities in many countries have doubled their vaccination efforts as omicron outbreaks complicate efforts to avoid further closures while hospitals remain under pressure from delta-variant infections.
In energy markets Monday, benchmark US crude oil fell 84 cents to $ 72.95 a barrel in electronic trading on the New York Mercantile Exchange. The price of Brent crude oil fell 3 cents to $ 75.76.
The US dollar was at 114.64 Japanese yen, compared to 114.38 yen on Friday night. The euro slipped to $ 1.1308 from $ 1.1318.
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