· Asia stocks spooked by sudden slide in gold
Asian shares wobbled on Monday amid sharp losses in gold and oil prices, while the dollar held near four-month highs after an upbeat U.S. jobs report lifted bond yields.
Holidays in Tokyo and Singapore made for thin trading conditions, leaving MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) down 0.1%.
Investors were still assessing whether Friday's strong U.S. payrolls report would take the Federal Reserve a step nearer to winding back its stimulus.
The U.S. Senate was closer to passing a $1 trillion infrastructure package, though a single Republican lawmaker was holding up a vote on Sunday.
· Asia-Pacific markets advance, with Hong Kong shares up almost 1%
SINGAPORE — Asia-Pacific markets traded mostly higher on Monday, with indexes in Australia, Hong Kong and the Chinese mainland posting gains.
Australia’s benchmark ASX 200 rose 0.16% as investors kept an eye on the Covid-19 situation in the country. The Australian dollar changed hands at $0.7354 against the greenback, climbing from an earlier level around $0.7326. The Aussie fell from levels above $0.7400 following a resurgent dollar Friday on the back of strong nonfarm payrolls data.
In South Korea, the Kospi index retraced most of its earlier losses and traded near flat at 3,269.17. The Kosdaq also reversed losses to gain 0.05%.
· China stocks rise on hopes of policy easing; HK gains
China stocks rose on Monday, with a strong rebound in blue-chip stocks offsetting losses in highly-valued tech shares, as signs of slowing economic growth fanned hopes of fresh policy easing.
Hong Kong stocks also gained, despite a fall in index heavyweight Alibaba Group Holding Ltd following a sexual assault scandal.
The CSI300 index rose 1.2% to 4,980.64 points at the end of the morning session, while the Shanghai Composite Index gained 0.9% to 3,488.92 points
The Hang Seng index added 0.94% to 26,424.41 points, while the Hong Kong China Enterprises Index gained 0.98% to 9,364.23.
· Private equity firms revise China strategy as regulatory crackdown widens
Private equity firms are rethinking their strategies in China as a widening regulatory crackdown on some of the country’s hottest sectors forces investors to scout for bets in other industries that they hope will be less vulnerable to sudden policy changes.
Private equity (PE) and venture capital (VC) funds are pivoting away from data-heavy, consumer-facing internet companies to sectors including semiconductors and renewable energy, industry executives said.
· European markets start the week on a mixed note
European stocks traded in mixed territory on Monday morning, bucking more positive sentiment overnight in Asia.
Shares in Germany and France inched higher at the start of trading while U.K. shares pulled back slightly.
The lackluster start to the trading week in Europe contrasts with more positive sentiment elsewhere; Asia-Pacific markets traded mostly higher on Monday, with indexes in Australia, Hong Kong and the Chinese mainland posting gains.
Investors are awaiting key U.S. inflation data scheduled for release this week. The consumer price index and the producer price index are scheduled to come out Wednesday and Thursday, respectively.
· Energy, mining stocks drag FTSE 100 lower on weak commodity prices
London’s FTSE 100 fell on Monday, dragged down by heavyweight energy and mining stocks as concerns about commodity demand returned due to a rise in coronavirus infections.
The blue-chip FTSE 100 slipped 0.3% with BP, Anglo American, Glencore and Royal Dutch Shell being among the top drags.
· Stock futures lower after Dow closes at record Friday
Stock futures traded lower early Monday after the Dow Jones Industrial Average notched a record close Friday following a stronger-than-expected jobs report.
Futures tied to the Dow fell 88 points. S&P 500 and Nasdaq 100 futures were both fractionally lower.
Reference: CNBC, Reuters
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