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European stocks are seen opening slightly lower on Monday despite key Chinese data coming in above forecasts. <\/p>\n
Asian stocks rose broadly, though Chinese and Hong Kong markets<\/span> were subdued ahead of a virtual summit between U.S. President Joe Biden and his Chinese counterpart Xi Jinping later in the day, with Taiwan likely to top the agenda. <\/p>\n The downside remained limited as key Chinese data surprised to the upside. <\/p>\n Annual growth in retail sales and industrial output both handily beat forecasts, while new home prices in the country fell 0.2 percent sequentially in the month. <\/p>\n Analysts said the People’s Bank of China could cut bank reserve requirements this week to support economic activity. <\/p>\n Elsewhere, data showed that Japan’s economy<\/span> shrank far more than expected in the three months to September, driven in part by a drop in household consumption due to the imposition of a virus state of emergency over the summer.<\/p>\n Eurozone trade figures and manufacturing sector data from the U.S may sway sentiment later in the day. <\/p>\n The dollar hovered near a 16-month high as investors await speeches by a number of Federal Reserve officials this week for more clues on interest rates and monetary policy going forward.<\/p>\n Minneapolis Federal Reserve Bank President Neel Kashkari said on Sunday that the Fed shouldn’t overreact to elevated inflation as it is likely to be temporary.<\/p>\n U.S. Treasury Secretary Janet Yellen said controlling COVID-19 in the U.S. will be crucial to easing inflationary pressures.<\/p>\n Gold pulled back from a five-month high, while oil prices dropped amid expectations of higher supplies and weakening demand.<\/p>\n U.S. stocks advanced on Friday despite worries about accelerating inflation and downbeat data showing an unexpected deterioration in U.S. consumer sentiment in November.<\/p>\n The Dow rose half a percent to end higher for the first time in four sessions, while the S&P 500 added 0.7 percent and the tech-heavy Nasdaq Composite climbed 1 percent.<\/p>\n European stocks ended mixed on Friday as investors weighed corporate earnings against historic inflation surges in the U.S. and China.<\/p>\n The pan European Stoxx 600 gained 0.3 percent. The German DAX finished marginally higher and France’s CAC 40 index rose half a percent while the U.K.’s FTSE 100 dropped half a percent. <\/p>\n<\/p>\n<\/div>\n