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World Shares Mixed Amid Troubles for Chinese Property Sector

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European shares and U.S. futures rose Monday after a lackluster day in Asia, where shares fell in Hong Kong and Shanghai after troubled Chinese …
European shares and U.S. futures rose Monday after a lackluster day in Asia, where shares fell in Hong Kong and Shanghai after troubled Chinese property developer Evergrande warned it may run out of money. Moving to reassure investors and keep growth from stalling, China ’s central bank cut the amount of funds banks are required to keep in reserve. That freed up 1.2 trillion yuan ($190 billion) for banks to lend. Investors are meanwhile also struggling with uncertainty about the newest coronavirus variant and about when the Federal Reserve will cut off its support for markets. “This is a week that will force uncomfortable contemplation about ‘known unknowns’ mainly associated with omicron, Fed tightening and China (regulatory/property) risks,” Mizuho Bank said in a commentary. That will bring still more uncertainty after a tumultuous spell last week, it said. Germany’s DAX surged 0.9 percent to 15,298.76 while the CAC 40 in Paris climbed 0.8 percent to 6,820.83. Britain’s FTSE 100 picked up 0.8 percent to 7,181.36. The future for the Dow industrials was 0.8 percent higher, while the contract for the S&P 500 gained 0.

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