Global stocks advanced on Monday helped by China's efforts to prop up its markets and property sector. European indices gained over 1% to two-week highs, while Wall Street futures pointed to opening gains.
Asia ex-Japan stocks climbed 1% earlier in the session, as Hong Kong rebounded 2% following Beijing's moves to cut stock trading fees and loosen margin financing rules.
However, concerns persist over China's property crisis. Shares of China Evergrande slid 10% on resuming trade after suspension, highlighting doubts over the troubled sector. Country Garden also seeks to delay a bond repayment.
The measures offered temporary relief but may not satisfy demands for bigger stimulus. Sentiment remains fragile depending on signs from China's troubled developers.
Attention now turns to key US jobs data this week. Job openings on Tuesday will provide clues ahead of Friday's nonfarm payrolls report. Investors also await hints on the Fed's tightening path from its Jackson Hole rhetoric.
Treasury yields edged lower but remain elevated on hawkish Fed expectations. The dollar held gains versus the euro and yen near multi-month highs. Oil prices were little changed as gas markets eyed potential Australian supply disruptions. Overall, markets seek clarity over China property woes and the global inflation-policy outlook.
