•European stocks were mixed Monday morning, amid lingering concerns over the outlook for the global economy.
The pan-European Stoxx 600 was flat during early morning deals, with sectors and major bourses pointing in opposite directions.
•Asian shares climbed on Monday, with markets in Europe poised to track their gains, after strong U.S. first-quarter economic growth and data showing profits at Chinese industrial firms grew for the first time in four months.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent, rebounding from its biggest weekly drop in more than a month last week.
Japan’s financial markets are closed for a long national holiday this week, but Nikkei 225 futures in Singapore was 0.9 percent higher.
“Investors are still looking for direction in terms of growth, but at the same time there is still quite a lot of uncertainty” on U.S.-China trade and the U.S. dollar, said Joanne Goh, equity strategist at DBS Bank in Singapore.
“A strong U.S. dollar doesn’t really bode well for Asian markets,” she added.
•The Shanghai Composite Index lost 0.1% to 3,083.08 and Sydney’s S&P-ASX declined 0.5% to 6,353.60. Taiwan also retreated.
Investors also looked ahead to Chinese manufacturing surveys this week. China’s economic growth rate held steady in the latest quarter despite the tariff war with Washington, fueling optimism the country’s downturn is bottoming out.
Reference: Reuters, CNBC
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