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Stock market today LIVE updates: Sensex sinks 643 points, Nifty below the 9,100 mark; Piramal Enterprises shares tank almost 14%
NY: Asian equities and oil prices are set to drop on Tuesday amid growing investor concerns about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since the closing.
The central Chinese city of Wuhan reported five new confirmed cases on Monday, raising questions about efforts to reduce coronavirus-related restrictions across the country as businesses restart and people return to work.
Hong Kong’s Hang Seng index futures fell 0.6 percent, while Japan’s Nikkei 225 futures NKc1 fell 0.1 percent.
“I have a feeling it will be flat or slightly downward in Asia,” said Shane Oliver, head of investment strategy and economics at AMP Capital in Sydney, citing concerns about coronavirus groups and a possible second wave.
Australian futures S & P / ASX 200 YAPcm1 fell 0.35 percent.
The S&P 500 barely closed higher on Wall Street, but the Nasdaq posted its sixth consecutive advance as technology and healthcare stocks provided the biggest boost to the top three US equity indices. USA
Representative image. Reuters
Nasdaq is now within 10 percent of its all-time high reached in February.
A jump in coronavirus cases in South Korea and Germany weighed on Wall Street sentiment, even amid signs that more parts of the United States may soon emerge from the blockades.
A second wave of infections would likely dampen the recent recovery in the stock markets and lead investors to position themselves for a severe and prolonged global recession.
There were some positive signs for the markets as China reported April credit growth accelerated to 12 percent from a year earlier, a sign that recovery from a first-quarter collapse remained intact, National Australia said. Bank in a report.
MSCI’s worldwide stock index returned 0.04 percent after wide declines in Europe.
On Wall Street, the Dow Jones Industrial Average fell 0.45 percent, the S&P 500 gained 0.01 percent, and the Nasdaq Composite added 0.78 percent.
The dollar, defying its typical safe haven status, rose on Monday, even as investors added risk to their portfolios, buying US stocks and selling Treasuries.
Investors in the currency markets had mixed risk expectations, with an eye on warnings of a second wave of COVID-19 infections as more countries eased the blocking restrictions.
Bond markets noted that the global economic recovery will be slow. The yields of the bonds of the government of EE. USA Two years have hit record lows at 0.105 percent and Fed fund futures last week turned negative for the first time.
Benchmark 10-year notes fell 11/32 in the past price to yield 0.7147 percent, from 0.681 percent as of Friday.
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