Stocks struggle in choppy trading
World stocks have struggled to stay above water in choppy trading as persistent worries over Europe's ability to contain a simmering debt crisis tempered optimism following talk of more stimulus for the US economy.Some markets zig-zagged between gains and losses as investors weighed comments by a US Federal Reserve official in support of more measures to stimulate the economy against the situation in Europe.
In early European trading, the FTSE 100 index rose 0.3% to 5,488.84, while Germany's DAX was nearly flat at 6,161.24. France's CAC 40 retreated 0.1% to 3,043.97 after briefly turning positive.
US stocks were poised to fall. Dow futures lost 0.1% to 12,500.00, while broader S&P 500 futures dropped 0.2% to 1,317.70.
In Asia, Japan's Nikkei 225 index gained 0.6% to close at 8,587.84, after machinery orders rose 5.7% to the highest level in four years, Kyodo reported.
South Korea's Kospi swung temporarily into negative territory in early trading before closing 0.2% higher at 1,859.32. Hong Kong's Hang Seng also briefly dipped before rising 0.8% to 18,026.52.
Australia's S&P/ASX 200 fell 0.2% to 4,063.80. Benchmarks in New Zealand and Singapore also fell but Taiwan's rose.
Mainland Chinese shares rose on hopes that authorities would bring in more economy-boosting measures. The benchmark Shanghai Composite Index added 1.3% to 2,318.92, while the smaller Shenzhen Composite Index gained 1.8% to 959.11. Shares in biotechnology, insurance and power-related companies led the gains.
Zhang Yang, an analyst at Sinolink Securities in Shanghai, said: "There is some room for gains after the earlier losses, and investors are expecting more positive monetary policies in the short term, even if the outlook is not so good in the longer term."
Speculation that regulators may ease limits on insurers' investments helped buoy China Life Insurance, China's biggest insurance company, which gained 7.2%.
South Korea's Kospi swung temporarily into negative territory in early trading before closing 0.2% higher at 1,859.32. Hong Kong's Hang Seng also briefly dipped before rising 0.8% to 18,026.52.
Australia's S&P/ASX 200 fell 0.2% to 4,063.80. Benchmarks in New Zealand and Singapore also fell but Taiwan's rose.
Mainland Chinese shares rose on hopes that authorities would bring in more economy-boosting measures. The benchmark Shanghai Composite Index added 1.3% to 2,318.92, while the smaller Shenzhen Composite Index gained 1.8% to 959.11. Shares in biotechnology, insurance and power-related companies led the gains.
Zhang Yang, an analyst at Sinolink Securities in Shanghai, said: "There is some room for gains after the earlier losses, and investors are expecting more positive monetary policies in the short term, even if the outlook is not so good in the longer term."
Speculation that regulators may ease limits on insurers' investments helped buoy China Life Insurance, China's biggest insurance company, which gained 7.2%.
© 2013 Press Association