Global Stocks: Wall Street continues to decline, Chinese indexes boosted by comments on possible stimulus
U.S. stocks continued to decline on Friday on weaker-than-expected U.S. data and a broadly stronger U.S.dollar. The Thomson Reuters/University of Michigan preliminary consumer sentiment index dropped and U.S. producer prices fell 0.5% in February. All eyes will be on the FED's interest rate decision and the following statement this week on Wednesday. Investors hope that the minutes will provide further insight into when the Central Bank is going to hike rates. The S&P 500 closed -0.61% with a final quote of 2,053.40 points. The DOW JONES index lost -0.82% closing at 17,749.31 points.
Chinese stocks continued to add gains on Monday on comments of Prime Minister Li Keqiang who said that there is a broad scope of measures left to boost economy if needed as the country had avoided to use short term stimulus in recent years. Hong Kong's Hang Seng is trading higher +0.47% at 23,935.23 points. China's Shanghai Composite closed at 3,448.49 points skyrocketing +2.24%.
The Nikkei could not add gains at the closing on Monday and retreated slightly from its new 15-year high set intraday on profit taking after the recent rally. The index closed -0.04% with a final quote of 19,246.06 points.
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