World shares were mostly lower on Monday, with Chinese markets logging moderate losses after reopening from a weeklong holiday to news of more lockdowns in China due to rising COVID-19 cases.
Shares fell in Hong Kong, Shanghai, Paris and London but rose in Frankfurt. Markets in Tokyo were closed for a holiday.
Germany's DAX edged 0.1 per cent higher to 12,289.96, while the CAC 40 in Paris slipped 0.5 per cent to 5,837.25. Britain's FTSE 100 declined 0.5 per cent to 6,956.55. Markets were closed Monday in Tokyo, Taiwan and South Korea. The Hang Seng in Hong Kong fell three per cent to 17,216.66 while the Shanghai Composite index shed 1.7 per cent to 2,974.15.. Bangkok's SET lost 0.6 per cent and India's Sensex gave up 0.4 per cent.
Makers of semiconductors and chip manufacturing equipment also suffered heavy selling after the U.S. government tightened export controls to limit China's ability to get advanced computing chips, develop and maintain supercomputers, and make advanced semiconductors. The U.S. government report showing employers hired more workers last month than economists expected might clear the way for the Fed to continue hiking interest rates aggressively, something that risks causing a recession if done too severely.
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