Dollar fall weighs on global stocks; US shut for holiday

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(AP Photo/Koji Sasahara). A man walks by an electronic stock board of a securities firm in Tokyo, Monday, Jan. 15, 2018. Asian stock markets edged higher on Monday after Wall Street's strong finish last week. The U.S. dollar weakened against most major... (AP Photo/Koji Sasahara). A man walks by an electronic stock board of a securities firm in Tokyo, Monday, Jan. 15, 2018. Asian stock markets edged higher on Monday after Wall Street's strong finish last week. The U.S. dollar weakened against most major...
(AP Photo/Lee Jin-man). A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing... (AP Photo/Lee Jin-man). A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing...
(AP Photo/Lee Jin-man). A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Kore... (AP Photo/Lee Jin-man). A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Kore...

By YOUKYUNG LEE
AP Business Writer

SEOUL, South Korea (AP) - Global stock markets were mostly lower on Monday as the dollar weakened across the board, pinching the outlook for export-driven regions like Europe. The U.S. was due to remain closed for a holiday.

KEEPING SCORE: Britain's FTSE 100 shed 0.1 percent to 7,771 while Germany's DAX fell 0.3 percent to 13,201. France's CAC 40 dropped 0.1 percent to 5,510. U.S. markets were due to remain closed for a holiday.

DOLLAR: The dollar fell in value against most currencies, extending losses this year. Some economists attribute it to optimism about economic growth in regions like Europe and Japan, where central banks are getting closer to easing off their bond-buying stimulus programs, which have weighed on their currencies in the past. A stronger euro and yen, in turn, tends to weigh on many stocks in Europe and Japan, which are export-focused economies.

The dollar slipped to 110.65 Japanese yen from 111.04 yen the previous trading day. The euro strengthened to $1.2271 from $1.2199.

ASIA'S DAY: Asian markets except China mostly finished with modest gains. Japan's Nikkei 225 rose 0.3 percent to 23,714.88 and South Korea's Kospi added 0.3 percent to 2,503.73. Hong Kong's Hang Seng index dipped 0.2 percent to to 31,338.87 and China's Shanghai Composite Index slipped 0.5 percent to 3,410.49. Australia's S&P/ASX 200 inched up 0.1 percent to 6,077.10. Stocks in Taiwan and Southeast Asia were moderately higher.

CHINA RISK: Shares slipped in Shanghai and Shenzhen after the China Banking Regulatory Commission issued a notice over the weekend calling for stricter oversight over financial risks. The notice took aim at preventing banks from shifting funds into stocks, property investments, local government financing vehicles and industries that violate national policies on pollution or excess capacity, among other areas of concern.

OIL: Benchmark U.S. crude lost 5 cents to $64.25 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 50 cents the previous session. Brent crude, the international standard, fell 17 cents to $69.70 per barrel.

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