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Asian markets poised for choppy day after Wall Street's fall

Published 01/12/2020, 10:51 am
Updated 01/12/2020, 10:54 am
© Reuters.
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By Jessica DiNapoli

NEW YORK, Nov 30 (Reuters) - Asian stock markets faced a choppy session on Tuesday after Wall Street dipped as investors took profits at the end of a record-breaking month while still remaining upbeat about the prospect of a COVID-19 vaccine fuelling gains into next year.

"U.S. markets were a little bit lower, that's what was holding us back a little bit," said Chris Weston, head of research at Melbourne brokerage Pepperstone. "People are pretty optimistic for a good 2021."

MSCI's gauge of stocks across the globe .MIWD00000PUS was roughly flat, and Australia's S&P ASX 200 .AXJO was up 0.15%. In early Asian trade, {{178|Japan's NiNikkei 225 futures NKc1 added 0.68%.

Hong Kong's Hang Seng index futures .HSI .HSIc1 were down 0.36%.

Wall Street's weakness on Monday was driven partly by a rebalancing of portfolios, analysts said, as investors cashed in on gains after a strong month punctuated by updates of COVID-19 vaccines progressing and hopes of a swift economic rebound next year. Inc MRNA.O applied for U.S. emergency authorization for its COVID-19 vaccine after full results from a late-stage study showed it was 94.1% effective with no serious safety concerns. Dow Jones Industrial Average .DJI fell 0.91% while the S&P 500 .SPX lost 0.46%. The tech-heavy Nasdaq Composite ended down 0.06%.

The dollar on Monday rebounded from its lowest level in 2-1/2 years, with investors worried about weakening U.S. economic data and the absence of any traction on another stimulus package. Data showed contracts to buy U.S. previously owned homes fell for a second straight month in October. U.S. Treasury curve was slightly steeper on Monday afternoon. prices fell on uncertainty about whether the world's major oil producers would agree to extend its deep output cuts at talks this week. Global assets

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http://tmsnrt.rs/2ihRugV MSCI All Country Wolrd Index Market Cap

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