World mkts subdued as investors in wait n watch mode
Holiday-thinned trading ahead of EU ministers’ meet and Fed policy meeting; Markets in Seoul and Tokyo settled lower, while Shanghai and Hong Kong closed for holidays; CAC 40 dropped 1.7, Germany's DAX was down nearly 1.0%, Dow rose 0.3%, S&P 500 was 0.2% higher
image for illustrative purpose
Tokyo: Global shares fell Monday and oil prices lost about $3 a barrel as European energy ministers are set to meet to discuss Russian supply issues and sanctions. World markets were subdued in holiday-thinned trading ahead of the Fed policy meeting on Wednesday. Elsewhere in Asia, markets in Seoul and Tokyo settled lower, while Shanghai and Hong Kong were closed for holidays.
Bourses in Europe were also trading lower in the afternoon session. Stocks in the US had ended significantly lower on Friday. Meanwhile, international oil benchmark Brent crude declined 2.61 per cent to $104.3 per barrel. The rupee pared initial gains to settle almost flat at 76.51 per US dollar on Monday as subdued domestic equities offset the impact of a sharp decline in global crude oil prices.
U.S. futures on Wall Street advanced after a rout on Friday. Trading was closed for holidays in China, many other Asian markets, and Britain. The CAC 40 in Paris dropped 1.7 per cent in early trading to 6,420.87. Germany's DAX was down nearly 1.0 per cent at 13,963.11. The future for the Dow industrials rose 0.3 per cent while that for the S&P 500 was 0.2 per cent higher.
A report showing pandemic lockdowns have hurt factory activity in China, a main regional driver of growth, was a fresh source of concern. The monthly purchasing managers' index, released over the weekend by China's National Bureau of Statistics, fell to 47.4 in April, down from 49.5 in March on a 100-point scale. Numbers below 50 show activity contracting. The Covid-19 outbreaks have impacted China's factory activities and market demand, said the bureau's statistician Zhao Qinghe.
