* Japan unveils fresh 8 708 billion fresh economic stimulus measures
* U.S. Investors stay on one side before the vote in Congress
* California Travel announces new restrictions on business
* Asian stock markets: tmsnrt.rs/2zpUAr4
WASHINGTON / HONG KONG, Dec 8 (Reuters) – Asian stocks were under pressure on Tuesday to balance further economic stimulus and hopes for a vaccine, with fresh fresh concerns over the Covid-19 infection.
Mixed Asian trade followed a mixed Wall Street session in which the tech-heavy Nasdaq composite closed at a record high while the other two key US indices declined.
European markets are also likely to struggle for a steady direction with the strength of 0.3% in London’s FTSE and Eurostax 50 futures and Germany’s DX flat.
“You’ve seen more than a little bit of moderation in the S&P 500 and the Dow, but you’re still seeing these markets at record highs,” said Tom Pyotorski, a market analyst at QMasek. “It remains to be seen what will be the next catalyst for these markets.”
MSCI’s broader indices of Asia-Pacific shares outside of Japan eased the decline from its initial trading, but it was still down 0.02% due to concerns over sentiment surrounding the coronavirus epidemic.
Among Asia’s top markets, Australian Australian stocks closed straight for the sixth straight session, boosted by data showing an improvement in business sentiment. The S&P / ASX 200 index rose 0.2% to 6,687.7, adding almost 3% in the previous six sessions.
However, Japan’s Nikkei 225 fell 0.22% and Seoul’s Kosi lost 1.53%.
Chinese blue-chips have remained flat while Hong Kong’s Hang Seng is down 0.56% as China-US tensions continue to weigh on the market.
Chinese Foreign Minister Wang Yi assured US officials that Beijing was committed to a first-round trade deal with the United States. It is reported that by October, the U.S. China’s purchases of goods and services, mentioned in the first phase of the. 75.5 billion deal for 2020, are at about half the level they should be on a pro-rated annual basis.
On Wall Street, the Nasdaq Composite rose 0.45% while the Dow Jones Industrial Average fell 0.49% and the S&P 500 fell 0.19%.
Some investors are seeing that the U.S. Policymakers can revive efforts to pass additional epidemic stimuli. The U.S. Congress is voting this week on a one-week stopgap funding bill to give negotiators more time to compromise, as the business community warns, a deeper recession could ensue.
At the same time, the country’s most populous, California announced a record number of cases and new restrictions on travel and business activity after hospitalization. New York officials warned that similar sanctions could be enacted soon, putting more emphasis on the country’s recovery.
The dollar slipped against most currencies due to potential stimulus and investors’ eye on vaccine development. The index, which monitors the dollar against the basket of currencies, changed slightly from 90.871, the weakest since April 2018.
Sterling is clinging to the prospect of a meeting between British Prime Minister Boris Johnston and European Commission President Ursula von der Leyen to defend the Brexit trade deal.
The British currency was on the edge but Asia is holding at $ 1.3360 from a low of 32 1.3225 on Monday in the afternoon session.
Yields rose slightly to 0.9361% on the 10-year benchmark on Tuesday.
Brent crude fell 0.72% and US crude fell 0.57% on increased losses from the previous session. After the Reuters report, prices came under pressure as the United States banned at least a dozen Chinese officials over their alleged role in disqualifying Hong Kong’s elected opposition legislators.
Spot gold prices rose 0.22% to 8 8,867.70 an ounce, and U.S. gold futures rose 0.31% to 8 1,871.7 a dollar as investors claim more stimulus money in the financial system.
Reported by Pete Schroeder and Julie Xu; Additional report by Suzanne Berlin; Edited by Sam Holmes and Lincoln Fist.
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