BEIJING (AP) – European shares drifted lower Monday as tensions over Ukraine simmered while Asian stock markets mostly rose on expectations of stimulus in China after manufacturing growth slowed in August.
KEEPING SCORE: In morning trading, France’s CAC-40 was down 0.3 percent at 4,369.03 and Germany’s DAX was off 0.1 percent at 9,463.43. Britain’s FTSE 100 shed 0.2 percent to 6,809.67. Wall Street is closed Monday for the Labor Day holiday. On Friday, the S&P rose 0.3 percent after delivering its fourth record high in five day.
UKRAINE: Two prominent U.S. senators said Sunday that the Obama administration should push for tougher sanctions on Russia, which is accused of supporting pro-Russian separatists in eastern Ukraine, and also send weapons to help Ukraine defend itself. The rebels have renewed their offensive in the past week, reclaiming parts of areas they’d previously ceded in fighting with Ukrainian troops and opening up an additional front.
ASIA’S DAY: China’s Shanghai Composite rose 0.8 percent to 2,235.51 points and Tokyo’s Nikkei 225 added 0.3 percent to 15,476.60. Hong Kong’s Hang Seng was marginally higher, adding 0.04 percent to 24,752.09. India’s Sensex gained 0.7 percent to 5,629.80. Taiwan, Sydney and Jakarta also rose.
CHINA FACTORIES: Two surveys showed China’s manufacturing growth slowed in August as export demand and investment weakened, raising expectations Beijing might launch more stimulus. HSBC Corp. said its purchasing manufacturers index fell to 50.2 from July’s 18-month high of 51.7 on a 100-point scale on which numbers above 50 show an expansion. An official industry group, the China Federation of Logistics and Purchasing, said its separate PMI declined to 51.1 from 51.7.