Monday, May 20, 2024
Mayra Santos-Febres
Mayra Santos-Febres is a Puerto Rican journalist renowned for her incisive reporting and captivating storytelling. With a keen eye for detail, she illuminates societal issues through her insightful journalism, captivating audiences with her compelling narratives.
World shares were mixed Monday as investors braced for an eventful week, including a decision by the U.S. Federal Reserve on interest rates.
The U.S. Federal Reserve is scheduled to announce its monetary policy on Wednesday, with traders not anticipating a rate cut. The Bank of England will follow with its rate decision on Thursday.
Monday kicked off with a Hong Kong court’s decision to order China Evergrande, the world’s most indebted property developer, to be liquidated. Chinese markets were mixed after the ruling, with Hong Kong shares rising while benchmarks in Shanghai and Shenzhen sank.
In early European trading, France’s CAC 40 was nearly unchanged at 7,632.50, while Germany’s DAX shed 0.5% to 16,875.72. Britain’s FTSE 100 added 0.2% to 7,646.57.
The future for the S&P 500 added 0.1% while that for the Dow Jones Industrial Average was virtually unchanged.
Beginning Monday, China’s securities regulators suspended lending of specific shares for short selling, a move to support the country’s declining stock markets. The specific shares refer to Restricted Stock, which is typically allocated to employees or certain strategic investors subject to sales restrictions.