Stocks muted after China factory growth eases
Source: AP-Excite
By JOE McDONALD
BEIJING (AP) — Global stocks were mostly lower Monday after unexpected weakness in Chinese manufacturing tempered enthusiasm for Japan's surprise central bank stimulus.
KEEPING SCORE: Germany's DAX declined 0.2 percent to 9,306.30 and France's CAC-40 shed 0.1 percent to 4,228.18. Britain's FTSE 100 was up 0.2 percent at 6,557.28. Wall Street looked set for declines following a record-high close Friday. Futures for both the Dow Jones industrial average and the Standard & Poor's 500 were off 0.1 percent.
ASIA'S DAY: China's benchmark Shanghai Composite Index gained 0.4 percent to 2,430.03 while Hong Kong's Hang Seng declined 0.3 percent to 23,915.57. Tokyo was closed for a holiday but the dollar was trading at a seven-year high against the yen after the Bank of Japan's announcement Friday. Seoul shed 0.6 percent to 1,952.97. Taiwan and Singapore rose while India and Sydney declined.
CHINA FACTORIES: A gauge of Chinese manufacturing released by a government-sanctioned industry group declined by 0.3 points to 50.8 on a 100-point scale on which numbers above 50 show an expansion. The market consensus had called for an increase to 51.2 points. The unexpected weakness fed concern growth in the world's second-largest economy will decline further.
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