· Dow futures rise slightly after the blue-chip average notches third winning week in a row
Stock futures edged higher in early morning trading Monday after the Dow Jones Industrial Average notched its third positive week in a row at a record high.
Dow futures rose 18 points. S&P 500 futures and Nasdaq 100 futures traded in mildly positive territory.
· Asia-Pacific stocks mixed as HSBC earnings beat expectations; oil prices rise
Shares in Asia-Pacific were mixed on Monday as investors reacted to the release of HSBC earnings.
Hong Kong’s Hang Seng index slipped about 0.1%, as of its final hour of trading. Hong Kong-listed shares of HSBC rose 0.43% after the bank on Monday reported a pre-tax profit in the third quarter of 2021 that bested expectations.
Shares of embattled developer China Evergrande Group were flat after surging nearly 6% earlier. The firm announced Sunday it had resumed work on more than 10 projects, according to Reuters.
Mainland Chinese stocks closed higher, with the Shanghai composite gaining 0.76% to 3,609.86 while the Shenzhen component advanced 0.717% to 14,596.72.
The Covid-19 situation in China may have weighed on investor sentiment regionally after an official warned that the outbreak could spread further, Reuters reported Sunday.
Japan’s Nikkei 225 closed 0.71% lower at 28,600.41 while the Topix index shed 0.34% to 1,995.42. South Korea’s Kospi gained 0.48%, closing at 3,020.54.
Stocks in Australia edged higher, with the S&P/ASX 200 rising 0.34% on the day to 7,441.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded mildly higher.
· European markets mixed with earnings in focus; HSBC beats
European stocks were muted on Monday as investors continued to monitor corporate earnings, Covid-19 and the inflation picture.
The pan-European Stoxx 600 hovered around the flatline in early trade, with oil and gas adding 1% while telecoms stocks slid 0.9%.
Investors also monitored the stock of embattled property developer China Evergrande Group, which whipsawed after the firm announced Sunday that it had resumed work on more than 10 projects. The company last week appeared to sidestep default through a last-minute bond coupon payment.
Reference: CNBC , Reuters
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