· Asia stocks mixed; China’s May exports misses forecasts
Shares in Asia-Pacific were mixed on Monday as investors reacted to Chinese trade data for May.
Mainland Chinese stocks closed mixed, with the Shanghai composite rising 0.21% to 3,599.54 while the Shenzhen component declined fractionally to 14,862.60. Hong Kong’s Hang Seng index fell 0.55%, as of its final hour of trading.
China’s exports in dollar terms rose 27.9% in May as compared with a year earlier, according to customs data released Monday. That was lower than forecasts by analysts in a Reuters poll for a 32.1% year-on-year jump in exports.
MSCI’s broadest index of Asia-Pacific stocks outside Japan traded around 0.1% lower.
In other developments, finance ministers from the Group of Seven over the weekend backed a U.S. proposal that calls for firms globally to pay at least 15% tax on earnings.
Markets in Malaysia and New Zealand were closed on Monday for holidays.
Japanese shares edge up as U.S. jobs data eases Fed taper concerns
Japanese shares closed higher on Monday after U.S. jobs data eased concerns over an early tapering from the Federal Reserve, but heavy profit-taking capped gains amid caution before U.S. inflation readings due later this week.
The Nikkei share average edged up 0.27% to close at 29,019.24, after rising as high as 1% to reach a nearly four-week high earlier in the session.
The broader Topix reversed course to tick up 0.08% to 1,960.85.
Taiwan stocks drop on prolonged virus curbs; U.S. inflation data in focus
Taiwan shares fell on Monday as the country extended COVID-19 restrictions for another two weeks, while Asia's emerging currency markets largely held steady as investors await key U.S. inflation data later this week.
Taiwan stocks recovered some ground from a sharp 2.1% fall early in the session, closing 0.4% lower, after the island extended COVID-19 restrictions until June 28 to battle a surge in infections.
· European stocks slightly higher as U.S. inflation data dominates week ahead
European stocks were slightly higher Monday, though inflation fears kept a lid on gains.
The pan-European Stoxx 600 index was up 0.1% in early morning deals. Autos and media shares were the best performers, each climbing 0.7%, while basic resources were the laggards, losing about half a percent.
FTSE 100 slips on glum China export data, lower oil prices
FTSE 100 down 0.1%, FTSE 250 flat
The export-heavy FTSE 100 slipped on Monday as lower oil prices and glum export data from China took the shine off the boost from a weaker pound, while NetScientific jumped on a deal to globally sell a COVID-19 test.
Stock futures point to opening declines as the S&P 500 sits inches from a record
Stock futures are lower in early morning trade on Monday as the S&P 500 attempts to make a run at a record high this week amid optimism about the economy’s ongoing reopening this summer.
S&P 500 futures traded in mildly negative territory while Dow Jones Industrial Average futures dipped 73 points. Nasdaq-100 futures also traded lower.
Reference: Reuters, CNBC
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