[ad_1]
© Reuters. Men in protective masks chat in front of a screen displaying Nikkei stock average and global stock indices amid the coronavirus disease (COVID-19) outbreak in Tokyo
By Pete Schroeder and Julie Zhu
WASHINGTON / HONG KONG (Reuters) – Asian stocks came under pressure on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with fresh concerns about a surge in COVID-19 infections.
Mixed Asian trade followed an equally mixed Wall Street session in which heavy technology closed at an all-time high while the other two major US indices fell.
European markets are also likely to fight for a firm direction with London’s 0.3% drop and Eurostoxx 50 futures and flat.
“You saw more than slight moderation on the Dow and the Dow, but you’re still seeing these markets at record levels,” said Tom Piotrowski, market analyst at CommSec. “It’s a question of looking for the next catalyst for these markets.”
MSCI’s broader Asia-Pacific equity index outside of Japan cut its losses from early trading but was still down 0.02% as anxiety over the coronavirus pandemic limited sentiment.
Among major Asian markets, Australian stocks closed higher for the sixth straight session, driven by data showing an improvement in business confidence. He rose 0.2% to 6,687.7, adding about 3% in the last six sessions.
However, 225 fell 0.22% and Seoul’s Kospi lost 1.53%.
Chinese blue-chips were stable while Hong Kong’s fell 0.56% as tensions between China and the United States continued to weigh on the market.
Chinese Foreign Minister Wang Yi assured US executives that Beijing remains committed to the Phase 1 trade deal with the United States. That came as a report showed that China’s October purchases of US goods and services, specified in the Phase 1 deal at $ 75.5 billion by 2020, were about half the level they should be on a base. prorated annual.
On Wall Street, the Nasdaq Composite rose 0.45% while it fell 0.49% and the S&P 500 lost 0.19%.
Some investors are watching whether US lawmakers can reinvigorate efforts to pass additional pandemic stimulus. The United States Congress is expected to vote this week on a week-long interim funding bill to give negotiators more time to compromise, as the business community warned that inaction could lead to a deeper recession. .
At the same time, California, the nation’s most populous state, announced new restrictions on travel and business after a record number of cases and hospitalizations. New York officials have warned that similar restrictions could soon be in place, weighing even more on the nation’s recovery.
The dollar slipped against most currencies as investors watched possible stimulus and the development of vaccines. An index that tracks the dollar against a basket of currencies changed little to 90,829, not far from 90,471, its weakest level since April 2018.
Sterling clung to hopes of a meeting between British Prime Minister Boris Johnston and European Commission President Ursula von der Leyen to salvage a Brexit trade deal.
The UK currency was nervous but held at $ 1.3360 in the Asian afternoon session, well above Monday’s low of $ 1.3225.
The yield on the 10-year benchmark notes rose slightly to 0.9361% on Tuesday.
Oil prices fell, extending the losses of the previous session. it fell 0.72% and fell 0.57%. Prices came under pressure after Reuters reported the United States was preparing sanctions for at least a dozen Chinese officials for alleged roles in Beijing’s disqualification of Hong Kong-elected opposition lawmakers.
Prices rose 0.22% to $ 1,867.70 an ounce, and the US closed 0.31% higher at $ 1,871.7 as investors bet more stimulus funds would be injected into the market. Finance system.
[ad_2]
