World stocks rally starts slowing

London - A global 2018 stock market rally showed signs of losing momentum Monday as New York and London stocks stalled, but Asia and eurozone markets powered on.

Asian equities mostly advanced following yet more records on Wall Street, with Hong Kong chalking up a blistering tenth day of gains.

The positivity spilled over into Europe with London scaling another record pinnacle at 7 733.39 points, before turning lower ahead of a UK government reshuffle.

"US stocks are seeing some pressure in early action, on the heels of last week's rally to ring in the New Year, with a heavy dose of economic data and the unofficial start of earnings season expected later this week," said analysts at the Charles Schwab brokerage.

Frankfurt and Paris maintained momentum to gain up to 0.4% each as the weaker euro against the dollar boosted exporters.

"The FTSE 100 is little-changed... but having touched a new record at the beginning of the session, the broadly bullish trend remains intact," said IG analyst Chris Beauchamp.

Wall Street opened a touch lower, after the Dow Jones clocked up its third straight record Friday, and the second close above the 25,000 landmark.

With the corporate earnings season about to begin, global equities continue to see in the new year on a positive note, with optimism boosted by a strong US economy -- and solid prospects elsewhere.

There is "nothing to rattle investors at the moment", ETX Capital analyst Neil Wilson told AFP.

Hong Kong extends run 

In Asia, Hong Kong rose 0.3% to continue an impressive run of gains that have seen the Hang Seng Index rise more than 5% to its highest level since late 2007.

Shanghai jumped 0.5% while Tokyo was closed for a public holiday. Seoul put on 0.6% as officials from North and South Korea prepare to hold talks for the first time since 2015.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
17.96
-2.0%
Rand - Pound
19.39
+0.3%
Rand - Euro
17.36
+0.0%
Rand - Aus dollar
11.70
+0.0%
Rand - Yen
0.12
+0.1%
Gold
1,643.40
-0.0%
Silver
18.87
0.0%
Palladium
2,073.00
0.0%
Platinum
858.50
0.0%
Brent Crude
86.15
-5.0%
Top 40
57,110
-3.1%
All Share
63,417
-2.9%
Resource 10
56,319
-7.5%
Industrial 25
78,436
-1.2%
Financial 15
14,142
-1.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders