Stocks close in on a losing month, energy and utilities sectors lead intraday gains

Reuters

Summer’s almost gone

Asian markets kick off the new month on Thursday, glad to see the back of a turbulent August but wary of what September holds. The driving forces last month – heavy selling in fixed income, rising global interest rate expectations, the looming energy crunch in Europe, and China’s deepening economic, energy, and financial problems – will not suddenly evaporate with the date change. Equity investors may look to start the month on the front foot and pick up some relative bargains, however, after the S&P 500 and world stocks both fell more than 4% in August.

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