Stock market: Asian markets fall after Wall St record, Chinese trade growth

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BEIJING –

Global stock markets and Wall Street futures fell on Monday after stronger hires in the United States and a double-digit rise in Chinese exports.

London and Frankfurt opened lower. Tokyo, Hong Kong and Sydney retreated while Shanghai advanced.

U.S. employers hired more people than expected in October, according to government data released on Friday.

China’s October exports rose 27.1 percent from a year earlier, although that slowed the previous month’s growth to 28.1 percent, customs data showed on Sunday.

Despite the gain, Chinese antivirus controls could dampen factory and consumer activity, “still leading to an uncertain recovery picture,” IG’s Yeap Jun Rong said in a report.

In early trading, the London FTSE 100 was down less than 0.1% to 7,303.60. The Frankfurt DAX lost less than 0.1% to 16,051.14. The CAC 40 in Paris gained 0.1% to 7,047.62.

On Wall Street, futures for the benchmark S&P 500 and the Dow Jones Industrial Average fell less than 0.1%.

On Friday, the S&P 500 rose 0.4% to a record high after the government said companies hired 531,000 people in October, more than the consensus forecast of 450,000.

The Dow Jones gained 0.6%, also to a new high. The Nasdaq composite added 0.2%.

In Asia, the Tokyo Nikkei 225 fell 0.4% to 29,507.05 while the Shanghai Composite Index gained 0.2% to 2,498.63. The Hang Seng in Hong Kong lost 0.4% to 34,763.77.

Seoul’s Kospi was down 0.3% to 2,960.20 and Sydney’s S & P-ASX 200 was down less than 0.1% to 7,452.20.

India’s Sensex index rose 0.9% to 60,588.11. New Zealand retreated while Southeast Asian markets rose.

This week, the US government is due to report inflation. Investors fear the Federal Reserve and other central banks will come under pressure to curb price increases by withdrawing stimulus measures that are pushing stock prices up.

Also on Monday, China’s ruling Communist Party opened a leadership meeting amid signs that President Xi Jinping is preparing the ground for a third term as party leader next year.

Investors are also hoping for possible updates on policy toward tech and other industries after data security and anti-monopoly measures against Chinese tech giants that began late last year. wiped out more than $ 1 trillion of their total market value.

In energy markets, benchmark US crude oil rose 77 cents to $ 82.04 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $ 2.46 to $ 81.27 on Friday. Brent crude, the basis of international oil prices, gained 74 cents to $ 83.48 a barrel in London. The previous session he added $ 2.20 to $ 82.74.

The dollar gained 113.50 yen against 113.40 yen on Friday. The euro rose to $ 1.1572 from $ 1.1550.


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