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Stock market today: European shares lower after mixed Asian trading as China property shares soar

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Shares opened mostly lower in Europe and Asian shares were mixed as Chinese stocks were lifted by hopes for further support for the country's faltering property market.

A currency trader walks by the screens showing the foreign exchange rates at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Sept. 6, 2023.

The official newspaper Securities Times ran an article urging that restrictions on sales of property in smaller cities be lifted. Such limits have been used to prevent markets from overheating due to speculative buying, but the long slump in the industry justifies a rollback of those precautions, the article said.

Hong Kong's Hang Seng edged less than 0.1% lower to 18,449.98 while the Shanghai Composite index was 0.1% higher at 3,158.08.The S&P/ASX 200 in Australia slipped 0.8% to 7,257.10 after the government reported the economy grew at a 2.3% annual pace in the last quarter. In quarterly terms, it expanded a modest 0.2%. The figures were in line with expectations.On Tuesday, the S&P 500 fell 0.4%, while the Dow Jones Industrial Average declined 0.6%. The Nasdaq slipped 0.

Wall Street will also get updates on aspects of the manufacturing sector and consumer credit. DocuSign, GameStop, Dave & Buster’s and Kroger are set to report their most recent quarterly financial results this week.to fight inflation, which has been easing for months.

 

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