Global stock indices open higher after clocking fourth straight month of gain

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Global stock indices open higher after clocking fourth straight month of gain

A swathe of global stock indices had wrapped up the session with a fourth straight monthly gain on Monday as Asian stocks edges higher in early Asia-Pacific trading a day after logging their longest monthly winning streak since August 2020, as the American currency alongside US Treasury bond notes continued to look for directions ahead of a barrage of EU and US data scheduled to be released this week.

In point of fact, with analysts and investors across the world expecting that this week’s data would orchestrate a pure illustration of global economic health, market participants remained broadly cautious in a thin-volume trading session on Monday, while both US stock futures and European equity markets were found to be hanging around with little distortions amid holidays in the United States and UK.

Nevertheless, following Monday’s equity market closure, several analysts had branded the last month as a period of modest turnover, though a growing conundrum among policymakers who had been caught off guard lately on whether to put a rheostat on higher inflation or nursing the wounds of a global economy which has been in dire need of fresh liquidity amid a pandemic-led fiscal upheaval, would likely to limit tractions in global equity markets over coming weeks.

Global stocks open higher after clocking fourth straight monthly gain

Citing statistics, while this report was being prepared, earlier on Asia-Pacific trading on Tuesday, Hang Seng was flatlined at 29,499.40 and Japan’s Nikkei 225 edged 0.20 per cent higher to 28874.7, while ASX 200 added 0.38 per cent to 7,178.30.

Aside from that, both Frankfurt’s DAX and London’s blue-chip FTSE 100 futures were trading more than 1 per cent higher, while US stock futures appears to be gaining ground, too. In tandem, MSCI’s index of global stocks that keeps track of 49 equity indices across the globe, spiralled 0.1 per cent higher on Monday, helping the index score a monthly gain of 1.4 per cent, while the index had also clocked its longest monthly winning streak since August 2020, data from Refinitiv had unveiled.

Meanwhile, referring to the likelihoods of a potential policy shift in the US Federal Reserve, a Societe Generale strategist Sebastien Galy said, “The question is, therefore, whether by September the Federal Reserve will be in a position to announce a tapering of its bond purchases starting next year, and the odds are quite decent though it might be delayed to December.