{"id":56870,"date":"2023-09-04T18:13:24","date_gmt":"2023-09-04T22:13:24","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/shares-oil-rise-as-sentiment-towards-china-brightens\/"},"modified":"2023-09-04T18:13:27","modified_gmt":"2023-09-04T22:13:27","slug":"shares-oil-rise-as-sentiment-towards-china-brightens","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=56870","title":{"rendered":"Shares, oil rise as sentiment towards China brightens"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS\/Aly Song\/File Photo<\/span>
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By Amanda Cooper<\/p>\n

LONDON (Reuters) – Global shares rose on Monday, lifted by a growing expectations that the Federal Reserve will not raise interest rates again, and by hopes that China’s steady drip feed of policy stimulus might stabilise the economy.<\/p>\n

A holiday in the United States kept a lid on activity ahead of key readings on U.S. services and Chinese trade and inflation later this week. <\/p>\n

More policy action is also expected from Beijing, including relaxing restrictions on home buying.<\/p>\n

There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond.<\/p>\n

“Taken alongside other measures announced in prior weeks, it does appear that momentum is building for policy changes in China that could put a floor under sentiment and lift consumption,” Lazard (NYSE:) chief market strategist Ron Temple said.<\/p>\n

“I continue to worry that there is not a sufficient sense of urgency among Chinese policy makers, but moves like those taken this week, combined with stabilization\/improvement in PMI data could signal an upcoming turn in investor psychology,” he said.<\/p>\n

The MSCI All-World index, which last week staged its strongest weekly rally since mid-July, was up 0.2%, while the dollar was around 0.16% lower on the day.<\/p>\n

“Perhaps there’s some carryover from last week – I’m still surprised at the lack of uplift from the jobs report – or the prospect of a stimulus-induced boost to China’s economy,” OANDA strategist Craig Erlam said.<\/p>\n

“Or maybe there’s nothing much at all behind the small gains in Europe and we’re just getting back into the swing of post-summer break trading,” he said.<\/p>\n

Investor sentiment in the tech sector will be tested this week by the initial public offering for chip giant Arm Holdings, which is aiming for a price in the range of $47 to $51, valuing the company between $50 billion and $54 billion.<\/p>\n

and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. The was up 0.3%, led by gains in tech stocks, such as Dutch semiconductor manufacturer ASML and drugmaker Novo Nordisk (NYSE:), which last week briefly overtook French luxury group LVMH as Europe’s most valuable company.<\/p>\n

PAYROLLS BOOST<\/p>\n

Stocks rose on Friday after August’s U.S. payrolls report firmed expectations for an end to rate hikes.<\/p>\n

While the headline jobs number topped forecasts, downward revisions to the previous two months and a dip in wage growth pointed to a loosening in the labour market. <\/p>\n

The jobless rate also jumped as more people went looking for work, leaving the vacancies to unemployed ratio at its lowest since September, 2021.<\/p>\n

Futures now imply a 93% chance of rates staying unchanged this month and a 67% probability that the entire tightening cycle is over. <\/p>\n

At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20.<\/p>\n

The head of the European Central Bank, Christine Lagarde, on Monday said it was critical for policymakers to keep inflation expectations firmly anchored. The market is now leaning against a hike at its September meeting after a run of soft data. <\/p>\n

The relative outperformance of the U.S. economy underpinned the dollar at 146.33 yen, not far from its recent 10-month peak of 147.37. The euro rose 0.3% to $1.0803, still within sight of its recent low at $1.0765.<\/p>\n

In commodities, oil traded near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend voluntary oil production cuts into October.<\/p>\n

futures rose 0.2% to $88.75 a barrel, as did U.S. futures, reaching $85.73. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS\/Aly Song\/File Photo By Amanda Cooper LONDON (Reuters) – Global shares rose on Monday, lifted by a growing expectations that the Federal Reserve will not raise interest rates again, and by […]<\/p>\n","protected":false},"author":1,"featured_media":2112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-56870","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nShares, oil rise as sentiment towards China brightens | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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