Global stocks end 2019 close to record highs

Wednesday, 1 January 2020 00:00 - - {{hitsCtrl.values.hits}}

MSCI’s global share index up 24% in 2019 with best performance in almost a decade.

London (Reuters) Global equities drifted on Tuesday while the dollar ended 2019 on a subdued note following a buoyant year of stock market gains, driven in recent weeks by hopes of an imminent US-China trade deal.

MSCI’s global share index was treading water but is on track for a 24% rise in 2019 - the index’s best performance in almost a decade. In Europe, equity markets were mixed, with Britain’s FTSE slipping 0.4% while France’s CAC was little changed in thin trading. Germany’s DAX was closed. Bourses in Asia also diverged. China mainland stocks gained 0.4% after data showed manufacturing activity in the world’s second largest economy expanded for a second straight month in December.

The data added too optimism that trade tensions were easing between Beijing and Washington after White House trade adviser Peter Navarro said on Monday a Phase 1 deal would likely be signed in the next week. He cited a report that Chinese Vice Premier Liu He would visit the United States this week.

China’s gains built on Monday’s rally, which was driven by a combination of strong retail sales growth and hopes that a new benchmark for floating-rate loans could lower borrowing costs. Hong Kong stocks fell 0.5% as protesters geared up for pro-democracy rallies on New Year’s Eve. Markets in Japan and South Korea were closed for a holiday.

In currency markets, the dollar index, which tracks the greenback against a basket of six major rivals, slipped 0.2% in its fourth straight session in the red.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.