The chart of Germany’s share index DAX is displayed at the stock exchange in Frankfurt am Main, western Germany, on March 20, 2023. (Photo by Daniel ROLAND / AFP)
London, United Kingdom — Data showing weak Chinese economic performance hit stock market trading on Monday, offsetting optimism over an expected US interest-rate cut.
Major Asian markets mostly closed lower, but European markets were able to throw off the downbeat sentiment in late afternoon trading. Frankfurt’s DAX ended the day with a small gain to set a new record close.
Wall Street was shut for a US public holiday.
READ: Asian markets diverge as China woes offset US rate hopes
Investor sentiment was jolted by worries over China’s economy after a report showed activity in the country’s manufacturing sector contracted for a fourth consecutive month in August and more than expected.
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