Stocks and oil recede amid concerns about new coronavirus strains

Asia-Pacific equities tracked global peers and assets increased as concerns over the economic downturn from new, more infectious coronavirus stocks that swept the UK’s volatile market.

Japan’s Topix fell 0.9% in Tuesday morning trading, while Australia’s S & P / ASX 200 fell 0.6% and South Korea’s Kospi fell 0.5%. In China, the CSI 300 Index for Shanghai and Shenzhen listed stocks fell 0.2%.

Asia’s weakness followed a wave of negative sentiment in the global market, and investors were concerned that the more toxic Covid-19 stock could lead to further blockades and curb global travel. The FTSE All World Index fell 0.8% on Monday, the worst day of the three weeks.

In the US market, new concerns about the infectivity of pandemics have been somewhat offset by a $ 900 billion fiscal stimulus agreement by Washington lawmakers. On Wall Street, the S & P 500 fell by as much as 2%, but recovered many of these losses and closed 0.4%.

In Europe, where many countries have banned travel to the UK and France has restricted freight across the English Channel, the STOXX 600 fell 2.3% on Monday.

Hong Kong’s Hang Seng Index rose 0.1% on Tuesday morning, but fell 0.7% the day before as Hong Kong became the first Asian city to ban flights arriving from the UK in response to new stocks.

In commodities, gold rose 0.3% to $ 1,883.47 an ounce as a wave of blockades and travel restrictions made shelter assets more attractive.

Trading in the oil market subsided the day after Brent’s biggest fall in more than a month, with Asia dropping 0.2% on Tuesday’s international benchmark to $ 50.81 a barrel.

The pound sterling continued to weaken, squeezed by the government’s strict new blockade for Christmas and deadlocked negotiations over the Brexit trade deal with the EU.

Sterling fell another 0.3% to $ 1.3423 in Asian trading and the dollar index rose 0.1%.

Stocks and oil recede amid concerns about new coronavirus strains

Source link Stocks and oil recede amid concerns about new coronavirus strains

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