Stocks Near Record Highs But China Shares Slump

A gauge of global equities headed for its seventh consecutive month of gains on Tuesday, but stocks and the dollar traded flat on the day as weak economic data suggested slower growth ahead as investors await a US jobs report at week's end, Herbert Lash and Tommy Wilkes reported for Reuters on September 1, 2021.

Photo Insert: The London Stock Exchange

MSCI's all-country world index traded up 0.13%, on track for another closing record high and its seventh month of consecutive gains. In Europe, the broad STOXX Europe 600 index closed down 0.45%.

On Wall Street, stocks edged up from early declines. The Dow Jones Industrial Average rose 0.09% and the S&P 500 added 0.02%, while the Nasdaq Composite slipped 0.11%.

Stocks in emerging markets jumped, with MSCI's EM index rising 1.66%.

Chinese shares endured another volatile session after disappointing economic readings and renewed worries about regulatory clampdowns.

Tech indices and stocks fell again after Beijing on Monday cut the amount of time players under the age of 18 can spend on online games to one hour on Fridays, weekends, and holidays.

The CSI information technology sub-index dropped 1.86%. The ChiNext Composite start-up board was 1.76% weaker and Shanghai's tech-focused STAR50 index fell 2%.

Asian shares overnight broadly recovered.

MSCI's gauge of Asia Pacific stocks outside Japan was up 1.4%, while Japan's Nikkei 225 bounced back to stand 1.1% higher despite weak July industrial output data.

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