By Stanley White and Suzanne Berlin
TOKYO / NEW YORK (Reuters) – A resurgence of coronavirus infections in Europe and the United States led Asian stocks to gain early and fell on Friday, hurting risk appetite.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.22%. U.S. Stock futures () also declined 0.12%.
Shares in China () initially rose as investors boosted banking stocks due to improved earnings, but the broader market devoted it to the rally and fell 0.55%.
Australian Australian stocks are down () 0.72%. Japanese stocks are down 0.49% and South Korean stocks are down 0.98%.
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.
Eurostocks 50 futures () 0.5%, German DAX futures () 0.47% and futures (0)% growth.
US President Donald Trump’s return on Thursday to increase the size of the stimulus package to win the support of Republicans and Democrats has reduced Wall Street’s losses, although many investors believe a deal is not possible before the Nov. 3 election.
Grant Williamson, Hamilton Hindin Green’s investment adviser in New Christchurch, said: “There’s also a bit of concern about what we’re seeing in the US and Europe about the virus and how it seems to have caught on again. Zealand.
On Wall Street, the Dow Jones Industrial Average fell 0.07%, the S&P 500 fell 0.15% and the Nasdaq Composite fell 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.
() US.8..819 was close to a two-week high as signals of a stalled U.S. economy pushed the safe harbor flow into the greenback.
The yen that depreciated against the yen was the yen, which rose 0.22% to 105.24 on the back of the Japanese currency, which is also seen as a haven.
The euro () was unchanged at 17 1.1704, while a U.S. Dussler pulled on sterling
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.
Shares of Semiconductor International Manufacturing Corp (HK 🙂 (SMIC) rose 0.81% on Friday after rising earnings and total margin forecasts for China’s top chipmaker in the third quarter.
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 0.3% against the greenback to 0.7075 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 1.11% to .66..68 dollars a barrel, while US crude futures () fell 1.1% to .50..51 dollars a barrel.
The choice of traders for security helped government bonds. U.S. Treasury benchmark 10-year note () yielded 0.7289%, while two-year yield () stood at 0.1390%.