Shares retreat on coronavirus resurgence, U.S. According to Reuters, the hope of excitement is fading

By Hideyuki Sano

TOKYO (Reuters) – Rising concerns about resurgent COVID-19 infection and U.S. Global stocks fell on Thursday as investors locked in recent gains, holding back hopes of a stimulus package ahead of the Nov. 3 election by the Treasury secretary.

Pan-European Euro futures () were set to open lower with European stocks falling 0.7% lower. MSCI’s broadest index of Asia-Pacific shares outside Japan () fell 0.6% while Japan’s Nikkei () fell 0.5%.

The US S&P 500 futures are down 0.25% in Asia, followed by the S&P 500 down 0.7% and the Nasdaq Composite Index down 0.8%. The US stock index is up 0.25% in Asia.

The New York Fang Plus Index of US top tech companies is struggling to reach its record high in September as investors lack confidence to test new highs.

“My gut feeling is that many investors know that those growth stocks have been over-bought, and the U.S. election could change the driver of the market,” Sumitomo Mitsui (NYSE 🙂 D.S. Kenji Hashizum, senior fund manager at Asset Management, said. In Hong Kong.

There are concerns that a resurgence in the COVID-19 epidemic could cause governments to shut down the economy again and boost profits.

COVID-19 cases are on the rise as some European countries are closing schools, canceling surgeries and allowing students to play the role of medics as drowned authorities urged to repeat the nightmare scene seen earlier this year.

That helped push Germany’s 10-year bond yield to minus 0.586% (), as seen in May.

U.S. Downbeat comments from Treasury Secretary Steven Muchin that a stimulus deal is not likely to happen before November 3rd. The 3rd vote also provided another excuse to make a profit.

Still, many investors expect big excitement after the election, which Democratic presidential candidate Joe Biden expects to win more and more.

However, as Biden sees the prospect of raising taxes on corporate profits and capital gains, investors will also look to other potential benefits of the Biden presidency, such as the uncertainty of global trade.

Nurihoro Fujito, chief investment strategist at Mitsubishi UFJ (NYSE :), said, “It smokes the opportunity when markets say stocks will break a few months ago if Trump loses and now they say Biden’s victory will be good in stocks.” Morgan Stanley (NYSE 🙂 Securities. “This suggests that markets are flushed in cash after the financial easing by the global central banks.”

In currency, Sterling made a good bid at 1.3017 , Hopes of progress in negotiations between Britain and the European Union rose 0.6% on Wednesday.

But British Prime Minister Boris Johnson told European Commission chief Ursula von der Leyen that he was disappointed there had been little progress in the talks since then little enthusiasm had been lost.

The Australian dollar fell 0.5% to 7 0.7128 After the country’s central bank speculated about a near-term cut in interest rates and the purchase of more long-running government debt.

Australia’s need for further stimulus was highlighted by data on 29,500 jobs lost in October while the unemployment rate rose to 6.9%.

The euro moved slightly to 1.1725 () while the dollar moved 105.20 yen. .

Thai Bahat The impact of protests against the government has so far waned as the country is likely to experience violent political crashes over the years.

Last week, the U.S. Oil prices rose slightly after crude stocks fell, rising 2% overnight, as OPEC and its allies were seen in full compliance with their agreement to curb output in September.

U.S. West Texas Intermediate (WTI) crude futures gained 0.1% to 41.07 a barrel, while Brent crude futures rose 0.1% to $ 43.34 a barrel.