Global stocks end higher
Optimistic trading on 1st session of new year after Wall St ends 2021 with big gain
Beijing: Global stock markets and US futures were mostly higher Monday, first trading session of 2022, after Wall Street ended 2021 with a double-digit gain.
Frankfurt and Paris opened higher, while Seoul and India advanced. Hong Kong retreated. Markets in Britain, China, Japan and Australia were closed. Wall Street's benchmark S&P 500 index slipped Friday amid lingering worries about the coronavirus's omicron variant, but ended 2021 with an annual gain of 26.9 per cent.
"It remains to be seen to what extent the optimism of the New Year will be reflected in financial markets," said Venkateswaran Levanya of Mizuho Bank in a report.
In early trading, Frankfurt's DAX gained 0.8 per cent to 16,010.77 and the CAC 40 in Paris added 0.9 per cent to 7,213.57. On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were 0.4 per cent higher. On Friday, the S&P 500 slipped 0.3 per cent and the Dow slid 0.2 per cent. The Nasdaq fell 0.6 per cent. In Asian trading, Hong Kong's Hang Seng shed 0.5 per cent to 23,274.75 and the Kospi in South Korea rose 0.4 per cent to 2,988.77. One of China's biggest real estate developers, Evergrande Group, which is struggling to avoid a default on $310 billion of debt, announced Monday it had asked for trading of its shares in Hong Kong to be suspended ahead of an announcement of unspecified "inside information." India's Sensex gained 1.4 per cent to 59,101.23. Singapore, Jakarta and Malaysia advanced. Markets in New Zealand and Thailand were closed. Also Monday, Singapore's government announced its economy grew by 7.2 per cent last year, rebounding from the previous year's 5.4 per cent contraction.
In energy markets, benchmark US crude rose 86 cents to $86.07 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.78 on Friday to $75.21. Brent crude, the price basis for international oils, gained 87 cents to $78.65 per barrel in London. It lost $1.75 the previous session to $77.78 per barrel. The dollar advanced to 115.29 yen from Friday's 115.09 yen. The euro declined to $1.1340 from $1.1383.
