Asian, European Markets Begin Trading Week Mostly Higher
Posted: Mon Aug 17, 2020 4:38 amGlobal markets are mostly higher Monday despite bad economic news from Japan.
Japan’s Nikkei index dropped 0.8% after a report the country’s economy shrank 7.8% between April and June, the worst second-quarter numbers ever posted by the world’s third-largest economy.
Elsewhere in Asia, Australia’s S&P/ASX index also finished 0.8% lower. The KOSPI index in South Korea is down 1.2%, while Taiwan’s TSEC is up 1.2%.
In late afternoon trading, Hong Kong’s Hang Seng is up 0.6%, Shanghai’s Composite index is 2.3% higher, and Mumbai’s Sensex is up 0.1%.
European markets are off to a strong start, with Britain’s FTSE index, the CAC-40 index in France, and Germany’s DAX index all up 0.3%.
In commodities trading, gold is trading at $1,963.20 an ounce, up 0.6%. U.S. crude oil is selling at $42.17 per barrel, up 0.3%, and Brent crude is up $44.89 per barrel, up 0.2%.
All three major U.S. indices are trending upward in futures trading.