Stock market: what moves on the markets before the opening Monday

(Photo: Getty images)

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Large Asian stock markets rose sharply on Monday, a better-than-expected Chinese indicator that largely overshadowed Sino-US tensions, except in Hong Kong which ended in decline, amid lingering fears about the local spread of COVID-19.

On Wall Street, US indices point to an opening to green. Around 8:10 a.m., the futures contracts S&P 500 gain 21 points, or 0.64%, to 3,284 points. Those of Dow Jones climbed 158 points, or 0.6%, to 26,477 points, while those of the Nasdaq were up 96 points, or 0.89%, to 10,987 points.

The Toronto Stock Exchange is on recess today to celebrate the “Civic Holiday”.

In Europe, at mid-session, optimism was also in order for the start of August. In London, the FTSE 100 took 70 points, or 1.19%, to 5,968 points. In Paris, the CAC 40 rose 61 points, or 1.29%, to 4,845 points. In Frankfurt, the DAX jumped 281 points, or 2.28%, to 12,594 points.

Back in Asia, after six consecutive sessions of decline, the index Nikkei of the Tokyo Stock Exchange rebounded 2.24% to 22,195.38 points, while the index expanded Topix rose 1.78% to 1,522.64 points.

Investors in Tokyo were especially encouraged by the yen’s decline against the dollar and by the gains on Wall Street on Friday.

In mainland China the index composite de Shanghai took 1.75% to 3,367.97 points, and that of Shenzhen even more (+ 2.6% to 2315 points), in the wake of a new acceleration in manufacturing activity in China in July, according to an independent index released Monday.

Shanghai and Shenzhen have disregarded new threats from the Trump administration, which on Sunday promised rulings in the coming days against TikTok and other applications linked to Chinese companies, whose software would pose various security risks. US national, according to Washington.

On the other hand, the index Hang Seng Hong Kong closed down 0.56% at 24,458.13 points, as the territory continues to record more than 100 new COVID-19 cases per day, forcing local authorities to increase restrictions. The disappointing half-year results of banking giant HSBC also weighed.

On the oil side

Oil prices declined on Monday, in the face of the persistent acceleration of the pandemic in the world: after 5 a.m. the price of a barrel of American crude WTI lost 1.39% to 39.71 dollars and that of a barrel of London Brent fell by 1 , 15% to 43.02 dollars.

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