Global Stocks Steady Before Busy Week, China Skips Rate Cut

LONDON/SYDNEY — Global stocks held steady on Monday, with U.S. markets closed for a holiday, while Chinese equities fell slightly after the country’s central bank wrong-footed investors by skipping on a rate cut. MSCI’s world stock index was unchanged in morning trading in Europe. It has fallen around 0.35 percent so far this year after rallying 20 percent in 2023. China’s CSI 300 index fell to its lowest since 2019 but recovered to stand 0.1 percent lower as investors digested the central bank’s decision to leave its medium-term policy rate unchanged on Monday, defying expectations for a cut. Despite Monday’s sleepy start, investors are in for a busy week with data on Chinese fourth-quarter growth, UK inflation, and U.S. retail…