Global stocks mixed
Bangkok: Global shares were mixed Monday in quiet trading, with US markets set to be closed for the Independence Day holiday. World stocks were mixed as rising coronavirus cases in many countries due to the Delta variant dampened optimism over positive macroeconomic data from the EU and US. Elsewhere in Asia, bourses in Shanghai and Seoul ended with gains, while Hong Kong and Tokyo closed in the red. Equities in Europe were trading on a mixed note in mid-session deals.
US futures edged lower after Wall Street capped a milestone-shattering week Friday with stock indexes hitting more record highs as investors welcomed a report showing the nation's job market was even stronger last month than expected. Oil prices reversed early losses ahead of a meeting of oil producing nations as the United Arab Emirates (UAE) pushed back against a plan by the OPEC oil cartel and allied producing countries to extend a global pact to cut oil production beyond April 2022.
Benchmark US crude oil picked up 22 cents to $75.38 per barrel in electronic trading on the New York Mercantile Exchange. It shed 7 cents on Friday to $75.16 per barrel. Brent crude, the international standard, added 30 cents to $76.47 per barrel. The UAE, one of OPEC's largest oil producers, wants to increase its output - setting up a contest with ally and OPEC heavyweight Saudi Arabia, which has led a push to keep a tight lid on production. The combined OPEC Plus grouping of members led by Saudi Arabia and non-members, chief among them Russia, failed to reach an agreement Friday on oil output. Negotiations over the dispute are set to resume Monday. Germany's DAX lost 0.4% to 15,595.75 and the CAC 40 in Paris shed 0.2% to 6,545.19. Britain's FTSE 100 edged 0.1% higher to 7,133.40.
The future for the S&P 500 lost 0.1% and that for the Dow industrials fell less than 0.1%. Worries remain across Asia about rising coronavirus cases as outbreaks of new infections overtake vaccination efforts. In Thailand and Indonesia, local authorities have reported record high new cases. Tokyo's Nikkei 225 lost 0.6% to 28,598.19 and the Hang Seng in Hong Kong declined 0.7% to 28,143.50. The Shanghai Composite index gained 0.4% to 3,534.32 and South Korea's Kospi picked up 0.4% to 3,293.21. In Australia, the S&P/ASX 200 edged 0.1% higher to 7,315.00. China announced over the weekend that Chinese ride-hailing service Didi would be removed from app stores in the country in the latest blow after its shares began trading in New York on June 30.
