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Market Buzz: Hopes for monetary stimulus

Market Buzz: Hopes for monetary stimulus
Russian stocks are likely to prove sensitive to weaker manufacturing data from China, while investors pin hope on the new round of monetary easing in China and the US.

Russian markets closed in the red on Wednesday amid renewed worries on the Greek issue. The MICEX shed 0.5% and the RTS declined 0.8%.

European stock markets declined Wednesday, as investors were bullish ahead of meetings between Greece’s prime minister and European leaders this week. The Stoxx Europe 600 dropped 1.2%, weighed down by the energy sector. Germany’s DAX 30 gave up 1% and the French CAC 40 shed 1.5%.

US stocks finished flat Wednesday after minutes from the last Federal Open Market Committee meeting showed discussion of a third round of quantitative easing. The Dow Jones lost 0.2%, the S&P 500 finished flat and the Nasdaq Composite rose 0.2%.

Asian stocks traded mixed on Thursday after the data showed Chinese manufacturing in August fell to its lowest level in nine months. However, weaker data renewed hopes of more easing from China. Japan’s Nikkei climbed 0.2%, while Hong Kong’s Hang Seng led the region with 0.9% advance. South Korea’s Kospi edged up 0.2%, but the Shanghai was down 0.2%. Australia’s S&P/ASX 200 rose 0.1%.

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