· European markets were higher on Monday morning as traders looked ahead to a crucial vote in the U.K. that will determine whether the country's Brexit deal will be approved.
The pan-European Stoxx 600 was up nearly 0.37 percent with all sectors in the black.
· Asian shares inched up on Monday as Chinese markets rebounded on hopes of more policy support for the slowing economy, but surprisingly weak U.S. employment data raised doubts about the strength of the global economy and limited gains.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, paring a quarter of Friday’s 1.6 percent fall, its second biggest decline so far this year.
“Trading volume is surging while foreign investors have been selling late last week,” said Naoki Tashiro, president of TS China Research, adding that suggests buying by retail investors is driving Chinese shares.
· Japan’s Nikkei share average snapped a four-session losing streak on Monday, although gains were limited as much weaker-than-expected U.S. job data dimmed the outlook for the global economy.
The Nikkei ended the day up 0.47 percent at 21,125.09. The index crawled back towards a three-month peak of 21,860.39 scaled a week ago.
“Stock prices appeared at a bargain following successive losses and this drove most of the bids. Demand in the market, however, was limited ahead of this week’s various economic data releases and Brexit proceedings,” said Chihiro Ohta, equity general manager at SMBC Nikko
· Shares in China rebounded on Monday morning after tumbling in the previous session, as the country’s central bank pledged to further support the slowing economy by spurring loans and lowering borrowing costs.
At the midday break, the Shanghai Composite index was up 1.22 percent at 3,006.19, after plunging 4.4 percent on Friday. China’s blue-chip CSI300 index was up 1.39 percent, recovering from a 4 percent drop on Friday.
Yi said there is still some room for the PBOC to cut reserve requirement ratios, and said the bank will work on lowering risk premiums that have kept lending rates for small firms relatively elevated.
Chinese banks made 885.8 billion yuan ($131.77 billion) in net new yuan loans in February, down sharply from a record 3.23 trillion yuan in January, though the drop was likely due to seasonal factors.
“Considering that the main external central banks are all turning toward loosening, and that domestic credit growth still requires government support, monetary policy will continue to be relatively loose,” analysts at Zheshang Securities said in a note.
Reference: Reuters, CNBC
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