Morning Call - The recovery momentum is not stable, cautious sentiment still dominates, European stocks reached the highest level in more than 1 year


Global stocks remained in green, European stocks reached the highest level in more than 1 year. European stocks rose on Monday ahead of an action-packed week, with the continent-wide STOXX 600 and Germany's DAX 40 hovering around their highest levels since February 2022 and France's CAC 40 hitting a new peak. Market focus shifted to Federal Reserve Chair Powell's testimony on Tuesday, which will likely dictate the direction of the US central bank for the near future. Meanwhile, ECB's chief economist Lane said it would be appropriate to raise interest rates further beyond the March meeting as inflation in the bloc remained high. 

Domestic stocks narrowed their gain, trading was still cautious. The estimated disbursement rate of public investment capital in 2 months only reached 6.55% of the plan in 2023, lower than the same period in 2022 at 8.61%.


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