LONDON, England (AP) — Stock markets got off to a slow start for the week despite news that the Chinese economy grew 2.3 per cent in 2020 after a sharp contraction early in the year.
Shares fell in London and Tokyo yesterday but advanced in Hong Kong, Paris and Shanghai. Most US markets were closed for the national holiday.
Investors appeared to have grown increasingly wary over the deepening economic devastation from the pandemic despite hopes that COVID-19 vaccines and fresh aid for the US economy might hasten a global recovery.
In Britain, the Financial Times Stock Exchange (FTSE) 100 Index dropped 0.2 per cent to close the day at 6,720.65. Germany’s DAX edged 0.4 per cent higher to 13,848.35 and the CAC 40 in Paris rose 0.1 per cent to 5,617.27.
China was the first country to suffer outbreaks of the new coronavirus and the first major economy to begin recovering, while the US, Europe and Japan are struggling with outbreaks.
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