Mixed start for global stocks as markets pause after robust 2023 rally
Stock markets around the world experienced a mixed start on the first trading day of 2024, taking a pause after a strong rally in 2023. Europe’s benchmark Stoxx Europe 600 index saw a modest gain of 0.1%, with Germany’s DAX and France’s CAC 40 rising 0.4% and 0.1% respectively. London’s FTSE 100, which had earlier posted gains, was trading flat. In Asia, Hong Kong’s Hang Seng fell by 1.5%, while mainland China’s Shanghai Composite closed down 0.4% due to weak manufacturing data highlighting the challenges faced by the second largest economy. However, South Korean and Australian stocks saw gains. On Wall Street, Dow futures traded 0.2% lower, with the S&P 500 ticking down 0.3% and the tech-heavy Nasdaq slipping 0.5%.
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