The new trading week began Monday with uneven European markets as investors considered geopolitical unrest.
By 11:30 a.m. London time, the pan-European Stoxx 600 was trading near the flatline, reversing the majority of its earlier gains with uneven trading across major regional bourses and sectors.
With China’s authorities promising “more proactive” fiscal measures and “moderately” looser monetary policy for the upcoming year, Hong Kong stocks surged over 3% in the final hour of trade.
These actions could increase domestic consumption. The news also helped European luxury stocks rise, with Kering, the company that owns Gucci, at one time jumping as much as 4%.
Overnight, Asia-Pacific markets were mixed. Over the weekend, President Yoon Suk Yeol escaped an impeachment vote, which caused the Kospi market index in South Korea to drop more than 2%.
Source (CNBC)
