News

By Caroline Valetkevitch

NEW YORK, Feb 6 (Reuters) - Global stock indexes were mostly little changed on Tuesday while U.S. Treasury yields eased as investors looked for more clues on how soon the Federal Reserve may start cutting interest rates.

The iShares China large-cap exchange-traded fund FXI.P rallied nearly 5% early and the Golden Dragon China index .HXC climbed 5.5%. Beijing ramped up efforts to put a floor under its slumping market, also boosting Chinese stocks earlier in the day.

The U.S. dollar weakened slightly but stayed close to its highest level in nearly three months in the wake of recent strong economic data and the Fed's recent hawkish stance on rates.

Traders have pushed back expectations of the Fed's first rate cut to May, after previously pricing in a likely rate reduction in March.

Investors on Wall Street also digested quarterly results and forecasts from U.S. companies. Eli Lilly LLY.N shared rose after it forecast 2024 profit above estimates.

The MSCI world equity index .MIWD00000PUS, which tracks shares in 49 nations, gained 0.24%. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.42%, while Europe's STOXX 600 .STOXX index rose 0.55%.

A slew of announcements from China's securities regulator, a reported upcoming meeting between President Xi Jinping and financial regulators highlighted the urgency with which Chinese authorities are trying to stem heavy losses in its stock market. State fund Central Huijin Investment also said on Tuesday it has expanded its scope of investment in exchange-trade funds.

China's blue-chip index .CSI300 plunged to a five-year low last week on the back of the country's ailing economy, which had prompted state-backed investors, dubbed the "national team", to step up their buying of blue-chip stock tracking index funds to support the market. .SS

U.S. crude CLc1 ticked up 0.62% to $73.23 a barrel. Brent crude LCOc1 rose to $78.52 per barrel. Gold prices XAU= were up 0.5%.

World FX rates YTD http://tmsnrt.rs/2egbfVh

Global asset performance http://tmsnrt.rs/2yaDPgn

Asian stock markets https://tmsnrt.rs/2zpUAr4

(Additional reporting by Karen Brettell and Herbert Lash in New Yok, and Alun John in London and Rae Wee Editing by Sam Holmes, Sharon Singleton, Emelia Sithole-Matarise and Ros Russell)

((caroline.valetkevitch@thomsonreuters.com))

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