Global stocks swung between gains and losses Monday after China's manufacturing weakened in June amid a credit crunch, AP reported. Tokyo's Nikkei 225 rose 1.3 percent to 13,852.50 while China's benchmark Shanghai Composite Index gained 0.8 percent to 1,998.24 after spending much of the day in negative territory. Taipei, Seoul and Sydney declined, while Hong Kong was closed for a holiday. In Europe, Germany's DAX was 0.2 percent higher at 7,975.12 and Paris's CAC-40 rose 0.2 percent to 3,746.27. Britain's FTSE 100 was up 0.4 percent at 6,266.70. Wall Street was set to gain with Dow futures up 0.6 percent at 14,914. S&P 500 futures added 0.6 percent to 1,608.70. In Australia, where a boom fueled by Chinese demand for iron ore, copper and coal is cooling, Sydney's ASX/S&P 200 lost 1.9 percent to 4,710.30. Benchmark oil for August delivery was up 2 cents at $96.58 in electronic trading on the New York Mercantile Exchange. In currency markets, the dollar gained to 99.54 yen from 99.11 yen late Friday. The euro rose to $1.3040 from $1.3013.
