Global markets mostly advanced on Monday as traders anticipated significant US economic reports later this week. Germany's DAX inched up to 17,731.40, London's FTSE 100 climbed by 0.5%, while Paris' CAC 40 dropped slightly. In the US, futures for the S&P 500 and Dow Jones remained stable.
Asian markets displayed mixed performances with Hong Kong's Hang Seng up marginally and the Shanghai Composite slipping. However, Seoul's Kospi surged 1.2% backed by gains in Samsung Electronics. Other notable movements included Taiwan's Taiex rising 1.4% and Australia's S&P/ASX 200 increasing by 0.5%. Not all markets participated, as exchanges in Tokyo and Bangkok were closed.
As Yeap Jun Rong from IG noted, "The recent run in stronger-than-expected US economic data has aided to push back against recession concerns, with rate expectations now suggesting that the U.S. Federal Reserve (Fed) may retain more flexibility in its policy easing process as compared to one that is being forced by higher economic risks." (This story was generated by Newser's AI chatbot. Source: the AP)
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