Business Desk 26 Feb , 2024 12:54 PM GMT
Tokyo's Nikkei 225 reached a record high, attracting foreign investors.
France's CAC 40 and Britain's FTSE 100 declined, while Germany's DAX edged higher.
Futures for the S&P 500 and Dow Jones Industrial Average were down.
People walk in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, Feb. 26, 2024, in Tokyo. Asian shares mostly declined Monday, although Tokyo's benchmark
Global shares mostly declined on Monday, with Tokyo's Nikkei 225 index being a standout as it reached another record high. In early trading, France's CAC 40 slipped 0.4% to 7,935.33, while Germany's DAX edged 0.1% higher to 17,428.37. Britain's FTSE 100 also declined by 0.2% to 7,691.62. Futures for the S&P 500 and the Dow Jones Industrial Average were down 0.2%.
The Nikkei 225 in Tokyo gained 0.4% to close at 39,233.71, following its all-time high of 39,098.68 on Thursday. The yen's weakness has been attracting foreign investors to Japanese shares, according to market experts.
In currency trading, the dollar slightly rose to 150.59 Japanese yen from 150.47 yen, while the euro saw a small increase to $1.0835 from $1.0823.
Market movements in China saw investors selling to secure profits from recent gains. Hong Kong's Hang Seng dipped 0.5% to 16,634.74, and the Shanghai Composite dropped 0.9% to 2,977.02. In other parts of Asia, Australia's S&P/ASX 200 edged up 0.1% to 7,652.80, while South Korea's Kospi slipped 0.8% to 2,647.08.
France's CAC 40 and Britain's FTSE 100 declined, while Germany's DAX edged higher.
Tokyo's Nikkei 225 reached a record high, attracting foreign investors.
Futures for the S&P 500 and Dow Jones Industrial Average were down.
Currency trading saw a slight rise in the dollar and euro.
China's market movements led to profit-taking, with Hong Kong's Hang Seng and Shanghai Composite dropping.
Australia's S&P/ASX 200 edged up, while South Korea's Kospi slipped.
Earnings reports from key U.S. companies and economic data releases are anticipated.
Earnings reports from key U.S. companies like Lowe's, Dollar Tree, HP, and Best Buy are anticipated this week, providing insights into the state of the U.S. and global economies. Additionally, economic data on consumer sentiment, inflation, and U.S. economic growth in the last quarter of 2021 are expected to be released soon.
The Federal Reserve's efforts to manage inflation back to its 2% target have been in focus, especially after recent data on consumer and wholesale prices exceeded expectations. Traders are now anticipating a potential rate cut by the Fed in June instead of March.
In energy trading, benchmark U.S. crude lost 49 cents to $76.00 a barrel on the New York Mercantile Exchange, while Brent crude, the international standard, dropped 50 cents to $80.30 a barrel.
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