· U.S. equity funds see outflows on rate hike prospects –Lipper
· Stocks stalled, euro squeezed as COVID fears return
Stocks made a wobbly start to the week while oil and the euro were under pressure on Monday, as the return of COVID-19 restrictions in Europe and talk about hastened tapering from the U.S. Federal Reserve put investors on guard.
· Oil and euro slip, markets on edge over COVID-19 curbs in Europe
Asian stocks made a soft start to the week on Monday while oil and the euro were under pressure, as the return of COVID-19 restrictions in Europe and talk about hastened tapering from the U.S. Federal Reserve put investors on guard.
Oil futures skidded about 1% at the open, sending Brent crude and U.S. crude to seven-week lows of $78.05 and $74.76 respectively amid oversupply concerns.
The euro slipped 0.2% to $1.1280, close to a 16-month low. The common currency has been the prime mover in markets over recent sessions as investors wager on Europe's economy lagging well behind the U.S. recovery.
· Asia-Pacific stocks mixed; JD.com, Netease shares in Hong Kong jump on index inclusion
Shares in Asia-Pacific were mixed in Monday trade as China kept its benchmark lending rate unchanged.
The Hang Seng index in Hong Kong dipped 0.42%. Hong Kong-listed shares of JD.com and Netease gained 1.87% and 3.02%, respectively, following a Friday announcement that the two stocks are set to be included in the benchmark Hang Seng index from Dec. 6.
In mainland China, the Shanghai composite rose 0.65% while the Shenzhen component advanced 1.161%.
China on Monday kept the one-year Loan Prime Rate (LPR) unchanged at 3.85%. The five-year LPR was also left steady at 4.65%.
In Japan, the Nikkei 225 fell 0.2% while the Topix index declined 0.25%.
Over in South Korea, the Kospi gained 1.21% as shares of industry heavyweight Samsung Electronics soared about 5%. The Straits Times index in Singapore also rose 0.28%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed.
· Hong Kong’s Hang Seng to remove Evergrande from its China Enterprises index
At the same time, it’s set to add Chinese technology giants JD and Netease to its main benchmark Hang Seng index. All the changes will take effect Dec. 6.
· European markets start the week on a positive note despite Covid-19 concerns
European stocks were cautiously higher on Monday, shrugging off concerns over Covid-19 restriction measures on the continent.
The pan-European Stoxx 600 added 0.3% in early trade, with telecoms climbing 1.1% to lead gains as almost all sectors and major bourses entered positive territory.
The positive start for European markets echoes buoyant sentiment elsewhere; U.S. stock futures rose slightly in overnight trading on Sunday ahead of the holiday-shortened week stateside. U.S. markets will be closed on Thursday on Thanksgiving Day and the stock market closes early at 1 p.m. ET on Friday.