Global stocks slip on concerns over more rate hikes, China economy
Global stock markets slipped on Monday as investors await more monetary policy decisions and on lack of economic stimulus in China.
US stock markets were closed for a public holiday on Monday.
Investors will be closely watching Federal Reserve chief Jerome Powell’s testimony to Congress this week.
Central banks in Britain, Norway and Switzerland are expected to hike interest rates this week.
China is widely expected to cut key lending benchmarks on Tuesday.
Europe
European shares fell on Monday with the pan-European STOXX 600 index shedding 1%.
Britain’s FTSE 100 declined 0.7% at 7,588.48. Germany’s DAX fell 1% at 16,201.20. France’s CAC 40 lost 1% at 7,314.05.
Airbus stock rose on announcing the biggest plane deal in history, with an order for 500 narrow-body jets from Indian budget carrier IndiGo.
The stock gained 0.23% at 131.48 euro.
Canada
Canada stocks closed slightly lower on Monday as industrial and consumer discretionary shares lost ground.
The Toronto Stock Exchange’s S&P/TSX composite index ended down 41.16 points, or 0.2%, at 19,934.21.
Oil prices
Crude oil prices fell on Monday on concerns over energy demand from China. Brent crude closed down 48 cents, or 0.6%, at $76.13 a barrel. US West Texas Intermediate (WTI) crude was down 49 cents, or 0.7%, at $71.29 at 1935 GMT.
Asia
Asian stocks dropped on Monday on worries about the Chinese economy.
Hong Kong’s Hang Seng Index down 0.6% at 19,912.89.
China’s Shanghai Composite lost 0.5% at 3,255.81.
Japan’s Nikkei 225 fell 1% at 33,370.42.
Markets in South Korea, Singapore, Taiwan, Philippines, Indonesia and Thailand were all down.
Australia’s S&P/ASX 200 index ended 0.6% higher at 7,294.90. New Zealand’s benchmark S&P/NZX 50 index slipped 0.4% at 11,750.75 points.
- Gold futures fell 0.5% to $1,962.30 an ounce.
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Updated: 20 Jun 2023, 02:58 AM IST
