Markets Start Week on Positive Note as Central Banks Adjust Rates
Global markets began the week positively with China's central bank cutting its 14-day repo rate. Stocks rose despite some skepticism from analysts. Wall Street and European futures also saw gains, buoyed by positive economic data and upcoming central bank decisions. Investors are closely monitoring U.S. fiscal negotiations.
Global markets kicked off the week on an upbeat note, fueled by China's central bank's 14-day repo rate cut. This follows a recent disappointment when longer-term rates were unchanged.
Despite analyst reservations, stocks reacted positively with a 0.6% rise. Meanwhile, Nikkei futures in Japan surged 740 points, and both Wall Street and European futures recorded moderate gains.
On currency exchanges, the dollar and euro extended their gains against the yen amid dovish signals from the Bank of Japan. The S&P 500 continued its remarkable performance, up 1% in September and 19% year-to-date. Trade volumes hit a peak on Friday, recording the busiest session since January 2021, as markets stayed optimistic post-Federal Reserve's rate cut. Investors are now eyeing key indicators and central bank meetings later this week.
(With inputs from agencies.)
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