Global markets moved in different directions Monday, with South Korean shares closing higher, French stocks and bonds weakening intraday, and U.S. technology shares gaining alongside fresh economic and diplomatic developments.
The Kospi ended 1.76% higher at 5,768.01 after opening 3.17% lower, Yonhap reported. The recovery followed last week’s regional selloff. Japan’s Nikkei 225 closed down 0.62% at 64,916.70, according to Nikkei’s published index data.
In U.S. trading, the S&P 500 was up 0.5% and the Nasdaq composite had gained 1.1% at 1:52 p.m. ET, AP reported. Those figures were snapshots before the U.S. market close.
China’s economy grew 4.5% from a year earlier in the third quarter, compared with 4.3% in the second quarter, the National Bureau of Statistics of China said. The bureau said domestic demand remained weak. It recorded a 7.2% decline in fixed-asset investment excluding rural households for the first nine months, while the value of goods exports rose 16.4% over the same period.
Iranian Foreign Minister Abbas Araghchi reiterated a proposal to reopen the Strait of Hormuz if Washington meets Tehran’s conditions. The plan calls for reopening on the sixth day and talks on the seventh, Reuters reported. Araghchi said Iran was reviewing U.S. comments on the proposal.
Brent crude fell early Monday but was up 0.2% at $110.12 a barrel by 1:52 p.m. ET, AP reported.
In France, the CAC 40 was down 1.5% in an intraday reading reported by Reuters. The yield on 10-year government bonds had risen 13 basis points to 4.9%. Investors see protests over living costs and public services as another obstacle to passing a budget that would narrow the deficit, Reuters reported. The outlet also reported protest-related losses for retailer Carrefour.
Moody’s is due to review France’s credit rating Oct. 23, Reuters reported.
