Global Markets Struggle Amid Weakening Yuan and Oil Prices

Global markets remained subdued with stock markets below last month's highs as China's stimulus promises failed to impress investors. While China's indexes showed slight gains, property stocks advanced, and luxury stocks in Europe dipped. Currency markets fluctuated slightly, alongside declining oil prices amidst China's economic uncertainty.

Global stock markets stayed below last month's record highs on Monday, with China's yuan and oil prices both weakening. Investors weren't inspired by China's weekend stimulus promises. U.S. stock index futures were mixed amid a week filled with key earnings reports from major firms like Goldman Sachs, Morgan Stanley, and Netflix.

In Europe, stocks were steady ahead of the European Central Bank's rate decision on Thursday. Investor attention was fixed on China, where governmental pledges to boost debt left uncertainty about the stimulus size, crucial for gauging market longevity, especially with ongoing property sector challenges.

Despite modest gains in China's indexes, property stocks benefited from speculation on potential stimulus impacts. Meanwhile, Brent crude and U.S. crude futures lost ground following China's inflation data, reviving concerns about fuel demand. Major currency markets also fluctuated as traders adjusted Federal Reserve rate cut expectations.

(With inputs from agencies.)