Manufacturing data helps lift stocks, US dollar bounces | Malay Mail

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NEW YORK, Sept 2 — A gauge of global stocks hit a record to start September on a high note yesterday, as data in major economies showed manufacturing demand rebounding from coronavirus-restricted lows, while the US dollar bounced off its lowest in more than two years. In the United States, stocks...

Factory activity in China expanded at the fastest rate in nearly a decade in August, a private PMI survey showed yesterday, boosting market sentiment overnight and at the European open. — Reuters pic

Factory activity in China expanded at the fastest rate in nearly a decade in August, a private PMI survey showed yesterday, boosting market sentiment overnight and at the European open. In addition to the economic data, US stocks got a boost from technology shares as Apple rose 3.98 per cent after a report the company had requested suppliers to make at least 75 million 5G iPhones for later this year.

But not all data was upbeat and European stocks reversed course to close lower for a fourth straight session after Germany cut its GDP forecast for 2021 and a reading on inflation for the bloc turned negative for the first time in more than four years.

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