Global markets rise, led by Chinese surge on stimulus hope
(MENAFN- Saudi Press Agency) Global markets turned higher on Monday after Chinese shares surged on hopes for new stimulus measures, AP reported.
France's CAC 40 was up 0.3 percent to 5,171.76 and Germany's DAX rose by the same rate to 11,521.70. Britain's FTSE 100.
China's trade figures shrank by unexpectedly wide margins in July, showing the world's second-largest economy faces weak demand both at home and abroad. Exports contracted by 8.3 percent over a year earlier and imports were off by 8.1 percent.
The Shanghai Composite Index jumped nearly 5 percent to 3,928.42.
Japan's benchmark Nikkei 225 was up 0.4 percent at 20,808.69 after flitting between gains and losses. South Korea's Kospi dropped 0.4 percent 2,003.17. Australia's S&P/ASX 200 rose 0.6 percent to 5,509.20.
The U.S. added 215,000 jobs in July, the Labor Department said Friday.
Benchmark U.S. crude was up 5 cents to $43.92 a barrel in electronic trading on the New York Mercantile Exchange.
The dollar rose to 124.75 yen from 124.22 yen on Friday. The euro dropped to $1.0936 from $1.0969.
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