Premarket: Global stocks steady before busy week, China skips rate cut

News Snapshot:

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% so far this year after rallying 20% in 2023. China’s CSI 300 index fell to its lowest since 2019 but recovered to stand 0.1% 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...