By Avantika Chilkoti
-- Most Asian stocks down; European shares waver
-- Brent crude oil price gains 2.2%
-- Koninklijke Philips up 3.9%
China's new market for technology groups opened with a rally on Monday. Of the 25 companies traded on the Shanghai Stock Exchange's Science and Technology Innovation Board, also known as the STAR market, a semiconductor group and medical instrument maker surged the most.
Other Asian markets dropped, however, with China's benchmark Shanghai Composite Index and Hong Kong's Hang Seng down 1.3% and 1.4%, respectively.
In the U.S. and Europe, investors braced for fresh economic data this week as expectations for interest-rate cuts from both major central banks grew. The U.S. Commerce Department will report second-quarter growth figures on Friday.
The European market wavered Monday as earning season rolled on. Shares in Dutch technology group, Koninklijke Philips, jumped after the company posted better-than-expected results early Monday, with rising sales and margins.
In commodities, the price of Brent crude rose to $63.41 per barrel as tensions mounted in the Persian Gulf. Iran seized a British-flagged tanker in the Persian Gulf on Friday.
Write to Avantika Chilkoti at Avantika.Chilkoti@wsj.com