Dollar starts August on high note after worst month since 2010

Global stocks rise after upbeat earnings reports and positive economic data

Zhe, senior economist at Caixin Insight Group.

A separate survey by IHS Markit showed activity in Spain’s and Italy’s manufacturing sectors resumed growing last month.

Indications of rising demand helped boost crude oil prices. Futures on Brent, the international benchmark, rose 1.7 per cent to $ 44.23 while WTI, the US marker, rose 2.1 per cent to $41.11

Other stock exchanges in the Asia-pacific region were mixed. Japan’s benchmark Topix index closed up 1.8 per cent, while Australia’s S&P/ASX 200 was little changed.

Hong Kong’s Hang Seng index fell 0.6 per cent in its first trading session since the territory’s leader, Carrie Lam, on Friday postponed elections for the city’s legislature, drawing condemnation from Washington. A sharp increase in loan-loss provisions and a plunge in second-quarter profit at HSBC, whose Hong Konglisted shares dropped more than 4 per cent, also weighed on the benchmark.

The price of gold briefly rose as much as 0.7 per cent to a fresh record high of $ 1,984.66 per troy ounce on Monday morning but pulled back to be down 0.4 per cent on the day.