Global stocks rise after Wall St ends in 2021 with big gain
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BEIJING
Global stock markets and US futures were mostly higher on Monday the first trading day of 2022 after Wall Street ended last year with a double-digit gain.
Frankfurt and Paris opened higher while Seoul and India advanced. Hong Kong retreated. The UK, Chinese, Japanese and Australian markets were closed.
Wall Street’s benchmark S&P 500 slipped on Friday amid lingering concerns about the omicron variant of the coronavirus, but ended 2021 with an annual gain of 26.9%.
“It remains to be seen to what extent the optimism of the new year will be reflected in the financial markets,” Venkateswaran Levanya of Mizuho Bank said in a report.
At the start of the session, the Frankfurt DAX gained 0.8% to 16,010.77 and the CAC 40 in Paris gained 0.9% to 7,213.57.
On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were up 0.4%. On Friday, the S&P 500 slipped 0.3% and the Dow Jones 0.2%. The Nasdaq fell 0.6%.
In Asian trade, the Hong Kong Hang Seng lost 0.5% to 23,274.75 and South Korea’s Kospi rose 0.4% to 2,988.77.
One of China’s largest real estate developers, Evergrande Group, which is struggling to avoid default on $ 310 billion in debt, said on Monday it had requested a suspension of trading of its Hong Kong shares ahead of the announcement of ‘unspecified inside information. “
The Indian Sensex gained 1.4% to 59,101.23. Singapore, Jakarta and Malaysia have advanced. The markets in New Zealand and Thailand were closed.
Also on Monday, Singapore’s government announced that its economy grew 7.2% last year, rebounding from the 5.4% contraction the year before.
In energy markets, benchmark US crude rose 86 cents to $ 86.07 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell from $ 1.78 on Friday to $ 75.21. Brent crude, the basis of international oil prices, gained 87 cents to $ 78.65 a barrel in London. It lost $ 1.75 the previous session to $ 77.78 a barrel.
The dollar rose to 115.29 yen from 115.09 yen on Friday. The euro fell to $ 1.1340 from 1.1383.
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