European shares were lower after a mixed session in Asia as Chinese markets reopened Monday from a long Lunar New Year holiday.
U.S. futures rose slightly while oil prices declined. Markets are closed Monday in the United States for President’s Day.
Germany’s DAX shed 0.4% to 17,056.23 and the CAC 40 in Paris lost 0.5% to 7,729.47. In London, the FTSE 100 edged 0.1% lower, to 7,705.28.
In Asian trading, Hong Kong’s Hang Seng fell 1.1% to 16,155.61 on heavy selling of technology and property shares despite a flurry of announcements by Chinese state banks of plans for billions of dollars’ worth of loans for property projects.
Major developer Country Garden dropped 4.2% and Sino-Ocean Group Holding plunged 3.9%. China Vanke lost 3.8%.
The Shanghai Composite index gained 1.6% to 2,910.54.
“The reopening of China’s markets after the Lunar New Year holiday typically garners attention, given China’s significant influence on global trade and economic activity,” Stephen Innes of SPI Asset Management said in a report. “However, the market reaction has been muted, possibly influenced by the U.S. public holiday and the overall quiet week for US data.”
Read the full report from the Associated Press here.
