China’s gains in Asian stocks grow, delayed by virus

TOKYO / NEW YORK (Reuters) – Asian stocks rallied on Friday on gains in China, but the mood remained cautious due to a resurgence of coronavirus infections in Europe and the United States.

After the market opens in Tokyo, Japan on October 2, 2020, photographers take photos near the big screen showing the share price on the Tokyo Stock Exchange (TSE). Ritter / Kim Kung-hoon / Files

MSCI’s comprehensive index of Asia-Pacific stocks outside of Japan .MIAPJ0000PUS Increased 0.27%. U.S. Stock futures also rose 0.32%.

Share in China . CSI300 Banking stocks rose 0.39% as investors rallied on earnings outlook.

Australian Australian stocks .Xjo Early losses in the flat business. Japanese stocks .N 225 0.05% higher, but South Korean share .KS11 Lost 0.32%.

The second round of lockdowns to end the spread of coronavirus has led to a decline in Asian trade as oil futures threaten to further weaken global energy demand.

US President Donald Trump’s offer to increase the size of the stimulus package to win the support of Republicans and Democrats has helped narrow Wall Street’s losses, although many investors believe the deal is not possible before the Nov. 3 election.

“There’s a bit of concern and we look at what we’re seeing about the virus in the U.S. and Europe and how it will catch on significantly again,” said Grant Williamson, investment adviser at Hamilton Hindin Green in New Christchurch. Zealand.

On Wall Street, the Dow Jones Industrial Average averages .DJI 0.07%, the S&P 500 fell .SPX 0.15% and Nasdaq Composite .IXIC Decreased 0.47%.

The U.S. is expected to see an unexpected rise in weekly unemployment claims, especially in Europe due to an increase in COVID-19 cases, raising concerns about the world economy.

The USD Index remained at 78 … at a two-week high, as stalled signals in the US economy pushed safe harbor flows into the greenbus.

The yen that depreciated against the currency was the yen, which rose 0.15% to 105.31 per dollar, given the Japanese currency is also seen as a haven.

The euro was down 0.01% at 1.1709 dollars, while the US dollar was down. The dollar was drawn on the sterling, which was trading 0.12% lower at 1.2900 last day.

Spot gold traded slightly higher at ં 1,908.40.

A coronavirus outbreak broke out in China last year, but Beijing’s aggressive efforts to control the virus mean its economy has improved faster than other major countries, suggesting an improvement in corporate earnings.

Hong Kong has a stake in Semiconductor International Manufacturing Corp. 0981.HK (SMIC) China’s top chipmaker’s earnings and total term forecast for the third quarter rose 2.53% on Friday.

In contrast, many European countries have resumed lockdown, and London will enter a strict COVID-19 lockdown from midnight on Friday as Prime Minister Boris Johnson seeks to quickly control the second wave of coronaviruses.

The European Union has urged Britain to compromise on its new economic partnership or to be ready for a trade disruption in less than 800 days, which is another negative for sterling.

The Australian dollar fell 0.2% against the greenback to 0.7094 against the greenback on falling commodities.

Concerns about the coronavirus and its impact on the world economy weighed on oil prices. Brent crude futures fell 0.6% to 42.90 a barrel, while US crude futures fell 0.44% to .7 40.77 a barrel.

The choice of traders for security helped government bonds. U.S. The yield on the Treasury benchmark 10-year note remained stable at 0.7339%, while the two-year yield fell to a low of 0.1390%.

Reported by Suzanne Berlin; Edited by Sam Holmes