Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

GLOBAL MARKETS-Asian stocks weaken as infection worries curb vaccine enthusiasm

Published 15/12/2020, 01:52 pm
© Reuters.
XAU/USD
-
US500
-
DJI
-
AXJO
-
HK50
-
PFE
-
GC
-
BLK
-
IXIC
-
US10YT=X
-
MIAPJ0000PUS
-
CSI300
-

* U.S. begins to roll-out vaccines

* Market worried by rise in infections, lockdowns

* China Nov industrial data in line with forecasts

* British pound lifted by extension of Brexit talks

* Asia stock markets this year: https://tmsnrt.rs/2zpUAr4

By Anshuman Daga and David Henry

SINGAPORE/NEW YORK, Dec 15 (Reuters) - Asian stocks drifted lower on Tuesday as worries about increasing COVID-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations.

Markets showed little reaction to China's industrial output, which grew in line with expectations in November, expanding for an eighth straight month as an economic recovery gathered pace. number of coronavirus deaths in the United States crossed 300,000 on Monday as the hardest hit nation started its first vaccine inoculations. uncertainty surrounds the timeline for rollout but key safety milestones could be met by around mid 2021," economists at Westpac said in a note.

"Meanwhile several jurisdictions continue to struggle with major outbreaks with a particularly notable rise in cases in the U.S.," they said.

Most Asian markets retreated in early trade, with MSCI's index of Asia-Pacific shares outside Japan .MIAPJ0000PUS falling 0.4%, having hit a string of record highs last week. E-mini futures for the S&P 500 EScv1 rose 0.1%.

Chinese stocks .CSI300 were down 0.2%.

Markets in Japan and South Korea, both grappling with surging infection numbers and growing public frustration, slipped 0.2% and 0.3%. Hong Kong .HSI gave up 0.5%.

Australian stocks fell 0.3% .AXJO , pulled down by heavyweight miners on fears of higher regulatory scrutiny over surging iron ore prices in top consumer, China.

On Monday, tighter COVID-19 restrictions were imposed on London as the government citing increased infection rates that may be partly linked to a new variant of the coronavirus. of the vaccines has powered gains in the last few months, with the Asian benchmark up nearly 16% so far this year, sitting just shy of a record struck last week. The rally has been led by markets in South Korea, China and Taiwan.

Last week, the United States authorised the emergency use of its first COVID-19 vaccine, developed by Pfizer (NYSE:PFE) and BioNTech. The vaccine has already been authorised in a handful of countries including Britain and Canada.

"We now know we are building a bridge to somewhere, providing clarity for policymakers, households and companies about getting to a post COVID stage," strategists at BlackRock (NYSE:BLK) Investment Institute said in a report.

"Yet disappointing jobs data in recent weeks pointed to near term risks as the virus surges around the U.S., potentially slowing the restart," they said.

On Monday, the S&P 500 .SPX closed down 0.4%, the Nasdaq Composite .IXIC gained 0.5% and the Dow Jones Industrial Average hit a record high but fell back 0.6% for the day. foreign exchange markets, the British pound was steady against the dollar at $1.3332 GBP=D4 , after rising 0.8% on Monday as the UK and Europe agreed to continue Brexit talks. It reached a 2 1/2-year high of $1.3540 earlier this month.

The dollar traded near 2-1/2-year lows against major peers as demand for the safest assets flagged. USD/

U.S. Treasury yields US10YT=RR were relatively stable ahead of the Federal Reserve's two-day policy meeting on Tuesday. expectations are growing that the Fed will further ease monetary policy by expanding its bond buying programme, as U.S. lawmakers struggle to agree on a fiscal stimulus package.

The Bank of England and the Bank of Japan also close out their 2020 meetings this week.

Gold prices XAU= edged up 0.2% to $1,831.9 per ounce.

Oil prices ticked lower as persistent oversupply in the market largely offset hopes that a rollout of coronavirus vaccines will lift global fuel demand. Global assets

http://tmsnrt.rs/2jvdmXl Global currencies vs. dollar

http://tmsnrt.rs/2egbfVh Emerging markets

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

http://tmsnrt.rs/2EmTD6j Asia stock markets:

https://tmsnrt.rs/2zpUAr4

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.