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World stocks seemed mixed as China cut interest rates

World stocks seemed mixed as China cut interest rates

Stocks around the world seemed mixed as China decided to cut interest rates to support its struggling economy.

On Monday, the US market remains closed due to public holidays and global trading activity It seems light. The Shanghai Composite Index rose 0.7% and the Nikkei 225 in Japan rose 0.8%.

Meanwhile, the Hang Seng Index in Hong Kong fell 0.8% and the Kospi Index in South Korea fell 1.2%. Stocks Europe 600 across the continent rose 0.6%.

Florian Yerpo, Macro Head of Lombard Odie Investment Manager, said the policies of the Chinese economy and central bank are the main drivers of market sentiment. Ielpo also said China is on a very different path than the rest of the world. He added that it was a significant difference and they were nervous about the current situation in China.

Dongchen, head of Asian macroeconomic research at Pictewelth Management, said Chinese authorities could step up financial and financial support. Brent crude, the global benchmark, fell 0.5% to $ 85.76 a barrel, and oil prices fell.

Various estimates of world stocks

Investors are preparing for another big week of US corporate earnings. They expect Goldman Sachs to report on Tuesday and Bank of America and Morgan Stanley to report on Wednesday.

Procter & Gamble and UnitedHealth will post their results on Wednesday, following American Airlines and Netflix on Thursday.

Banks will be surprised by the upside, said Larea Connor, market strategist at BNY Mellon Investment Management.

In a broader sense, wages go up with energy costs, so overall inflation puts pressure on margins. Akoner said this process will show up in 2022 earnings.

Unilever shares fell more than 8% after consumer goods giants said they were approaching Pfizer and GlaxoSmithKline to acquire a joint venture. The latest bid valued the unit at $ 68.5 billion. UK-listed GlaxoSmithKline shares rose 3.7%.

Credit Suisse shares fell 1.7% after the bank’s chairman resigned.

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World stocks seemed mixed as China cut interest rates

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