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Home / Business / Asian stocks retreat when a coronavirus outbreak strikes

Asian stocks retreat when a coronavirus outbreak strikes



TOKYO / NEW YORK (Reuters) – Asian stocks gave up early and fell on Friday as the resurgence of coronavirus infections in Europe and the United States worsens risk appetite.

PHOTO PHOTO: Passers-by in protective masks walk past a screen showing the average and global Nikkei stock indexes near a brokerage company, in Tokyo, Japan, October 5, 2020. REUTERS / Issei Kato

The broadest indicator of ATP shares outside Japan is MSCI .MIAPJ0000PUS fell by 0.22%. US stock futures SC1

also decreased by 0.12%.

Promotions in China .CSI300 initially increased as investors bought bank shares due to improved earnings forecasts, but the broader market surrendered these gains and fell 0.55%.

Australian stocks .AXJO fell to 0.72%. Japanese stocks .N225 lost 0.49%, and South Korean stocks .KS11 lost 0.98%.

Oil futures continued to fall in Asian trade as another round of blockades to curb the spread of the coronavirus threatens to further weaken global energy demand.

Futures on Euro Stoxx 50 STXEc1 increased by 0.5%, German futures on DAX FDXc1 rose by 0.47%, and futures on the FTSE FFIc1 scored 0.6%.

U.S. President Donald Trump’s proposal Thursday to increase the fiscal stimulus package to gain the support of Republicans and Democrats has helped reduce Wall Street losses, although many investors still believe the deal is unlikely before the Nov. 3 election.

“There’s a little bit of concern here, as well as what we’re seeing in America and Europe about the virus and how it seems to be backing up,” said Grant Williamson, Hamilton Hindin Greene’s investment adviser in Christchurch, New -York. Zealand.

On Wall Street, the industrial average is the Dow Jones .DJI fell 0.07%, S&P 500 .SPX 0.15% and Nasdaq composite .IXIC fell to 0.47%.

The sudden rise in weekly unemployment in the United States has added to concerns about the global economy, especially in the wake of the COVID-19 case in Europe.

Dollar index = USD was 93,819, almost to a two-week high as signs of a U.S. economic downturn drove safe harbor flows into the green dollar.

The only currency to which the dollar fell is the yen, which strengthened by 0.22% to 105.24 per dollar, given that the Japanese currency is also considered a refuge.

Euro EUR = did not change and amounted to 1.1704 dollars, while the harder US dollar tightened to sterling GBP =, which last traded at $ 1.2893, down 0.17% per day.

Gold points XAU = fell 0.22% to $ 1904.53 per ounce.

The coronavirus outbreak broke out in China last year, but Beijing’s aggressive efforts to fight the virus mean that its economy is recovering faster than other major countries, indicating improved corporate profits.

Hong Kong shares in Semiconductor International Manufacturing Corp. 0981.HK (SMIC) rose 0.81% on Friday after China’s leading chipmaker raised its revenue and gross margin forecasts for the third quarter.

In contrast, many European countries have resumed the blockade, and London will begin a tougher blockade of COVID-19 from midnight on Friday as Prime Minister Boris Johnson tries to fight the rapidly accelerating second wave of coronavirus.

The European Union has pledged Britain to compromise on their new economic partnership or be prepared to disrupt trade in less than 80 days, which is another negative factor for sterling.

The Australian dollar fell 0.3% against the greenback at $ 0.7075, hitting lower commodity prices.

Oil prices have weighed concerns about the coronavirus and its impact on the world economy. Brent oil futures fell 1.11% to $ 42.68 a barrel, while US oil futures fell 1.1% to $ 40.51 a barrel.

Traders’ security advantage has helped government bonds. The profitability of US Treasury prices is equal to 10-year notes US10YT = RR decreased to 0.7289%, while the two-year yield US10YT = RR maintained at the level of 0.1390%.

Edited by Sam Holmes and Jacqueline Wong


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