World markets rise as investors hope for China stimulus

HONG KONG - Most world stock markets advanced Tuesday in light trading after China's leaders held out the hope of more stimulus to combat weakness in the world's No.

See Full Article

2 economy.

KEEPING SCORE: European stocks were mostly higher in early trading, with Britain's FTSE 100 index rising 0.6 per cent to 6,070.66 while Germany's DAX gained 0.3 per cent to 10,530.46. France's CAC 40 edged up 0.1 per cent to 4,566.09. U.S. stocks were poised for a flat open, with Dow futures practically unchanged at 17,178.00 and broader S&P 500 futures steady at 2,015.00.

CHINA ECONOMY: Leaders in Beijing wrapped up their annual planning meeting Monday with renewed promises to promote economic growth. The Chinese government said it would be more proactive and flexible when it comes to using fiscal and monetary policy in order to keep growth in a "proper range," the official Xinhua news agency said, citing an official statement. That's raised hopes among some investors that Beijing will take more steps to support flagging growth in the world's No. 2 economy.

ANALYST VIEWPOINT: "There is one word that seems to be directing the markets in quiet pre-Christmas trade: China," Angus Nicholson of IG wrote in a commentary. "The pause in the devaluation of the renminbi and announcements of further fiscal and monetary easing from the Central Economic Work Conference have been moving equities and currencies upwards."

ASIAN SCORECARD: Regional benchmarks spent the early part of the day in negative territory before closing higher. The exception was Japan's Nikkei 225, which finished 0.2 per cent lower at 18,918.31. South Korea's Kospi climbed 0.6 per cent to 1,992.56 while Hong Kong's Hang Seng rose 0.2 per cent to 21,830.02. The Shanghai Composite Index in mainland China added 0.3 per cent to 3,651.77 and Australia's S&P/ASX 200 crept up 0.2 per cent to 5,116.60. Indexes in Taiwan, Singapore, the Philippines, Indonesia and New Zealand also gained.

ENERGY: U.S. crude oil futures climbed 33 cents to $36.15 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 25 cents to settle at $35.81 a barrel on Monday. Brent crude, which is used to price international oils, was up 27 cents to $36.62 a barrel in London.

CURRENCIES: The euro rose to $1.0923 from $1.0909 in the previous day's trading. The dollar slipped to 121.00 yen from 121.10 yen.



Advertisements

Latest Economic News

  • Asian shares mixed on jitters over trade tensions

    Economic CTV News
    TOKYO - Asian shares were mixed on Wednesday, as Japan's benchmark took a rest from a spate of recent jumps. Worries over a resurgence of trade tensions overshadowed regional markets. KEEPING SCORE: Japan's benchmark Nikkei 225 slipped 0.6 per cent to 23,988.21, while Hong Kong's Hang Seng index lost 0.3 per cent to 32,837.80. Source
  • U.S. Senate approves Powell to follow Yellen as Fed chair in Feb.

    Economic CTV News
    WASHINGTON -- The U.S. Senate on Tuesday approved President Donald Trump's selection of Jerome Powell to be the next chairman of the Federal Reserve beginning next month. Senators voted 85-12 to confirm Powell to lead the nation's central bank, a post that is considered the most powerful economic position in government. Source
  • U.S. Senate approves Powell to follow Yellen as Federal Reserve chair

    Economic CBC News
    The U.S. Senate on Tuesday approved President Donald Trump's selection of Jerome Powell to be the next chairman of the Federal Reserve beginning next month. Senators voted 85-12 to confirm Powell to lead the nation's central bank, a post that is considered the most powerful economic position in government. Source
  • CN Rail raises dividend after earning $5.5 billion in 2017

    Economic CTV News
    MONTREAL -- CN Rail is raising its quarterly dividend 10 per cent after its 2017 profits surged 51 per cent to nearly $5.5 billion helped by lower U.S. taxes. The country's largest railway says it will pay 45.5 cents per common share on March 29, to shareholders of record on March 8. Source
  • Legal marijuana shops could boost nearby properties: experts, study

    Economic CTV News
    TORONTO -- While Ontario landlords are looking to ban marijuana use in their rental units and several municipalities don't want legal cannabis stores in their neighbourhoods, a U.S. study suggests that pot could lift property values. Source
  • Mogo Finance Technology to begin bitcoin mining with DMG Blockchain Solutions

    Economic CTV News
    VANCOUVER -- Online lender Mogo Finance Technology Inc. says it has formed a new subsidiary to begin bitcoin mining through an agreement with Vancouver-based DMG Blockchain Solutions Inc. Mogo Blockchain Technology Inc. says it will initially lease 1,000 bitcoin mining machines to be managed and operated by DMG at its facilities in British Columbia. Source
  • Bell Canada confirms customer data breach

    Economic CBC News
    Bell Canada is alerting customers after hackers illegally accessed customer information, the telecom giant told CBC News. The information accessed included details such as names, email addresses, account names and phone numbers. Bell said there was no indication that credit card or other banking information was taken. Source
  • Bell Canada alerts customers after data breach

    Economic CBC News
    Bell Canada is alerting customers after hackers illegally accessed customer information, the telecom giant told CBC News. The information accessed included details such as names, email addresses, account names and phone numbers. Bell said there was no indication that credit card or other banking information was taken. Source
  • Bell Canada alerts customers who may be affected by data breach

    Economic CTV News
    TORONTO -- Bell Canada is alerting some customers that their information has been illegally accessed in a potential data breach. The company's notice doesn't say how many Bell customers were affected but media reports say the total could be 100,000. Source
  • Procter & Gamble CEO says company working to stop Tide Pod challenge

    Economic CBC News
    Procter & Gamble says it's working to stop a social media-fuelled trend called the Tide Pod challenge, which involves teenagers eating single-load laundry detergent packets. The American Association of Poison Control Centers warned last week of a spike in teenagers eating the detergent pods, saying consuming them can cause seizures, respiratory arrest and even death. Source