Global stocks mixed as virus fears economic outlook will darken – .

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Asian stocks mixed as virus fears economic outlook will darken – .


TOKYO – Global stocks were mixed on Monday, as fears of further waves of coronavirus outbreaks clouded the region’s economic outlook, tempering gains.

The French CAC 40 gained 0.6% to 6,678.66 at the start of the session, while the German DAX gained nearly 0.9% to 15,667.40. The UK FTSE 100 edged up 0.3% to 7,072.39. US stocks were forecast for gains, with Dow Industrials Futures rising 0.5% to 34,840.00. The S&P 500 future rose 0.4% to 4,462.25.

Japan’s Nikkei 225 benchmark was little changed, falling less than 0.1% to end at 30,240.06 after zigzagging earlier in the day. The Australian S & P / ASX 200 gained 0.6% to 7,384.20. South Korea’s Kospi added 0.3% to 3,133.64. The Hong Kong Hang Seng rose 0.1% to 24,208.78, while the Shanghai Composite lost 0.8% to 3,582.83.

Japan’s ruling party is holding elections later this week to choose a leader, who is expected to succeed Yoshihide Suga as prime minister after just one year in office. All the candidates are certain to stick to the nation’s pro-American policies, despite some nuance in their opinions.

They also all promise to increase public spending in an attempt to catalyze the growth of the world’s third-largest economy.

Analysts also say Japan’s central bank’s third-quarter economic “tankan” survey, due for release on Friday, will likely show worsening trading conditions due to various supply chain disruptions and new outbreaks. COVID-19 in many regions.

Although some parts of the world have lifted COVID-19-related restrictions and are gradually returning to ‘normal’ life, concerns remain in Asia about new waves of infections, as vaccine rollout has been slower than the West in some countries.

In Singapore, new COVID-19 restrictions have been launched in an attempt to curb the spread of the virus, as daily new cases surpassed the city-state peak reached in April 2020.

“” Overall, the manufacturing sector may remain resilient as shown by previous rounds of restraint, but the service sector may be under pressure. That said, previous trade adjustments and a softer tightening from past restraint phases may help reduce some impacts, ”said Yeap Jun Rong, market strategist at IG in Singapore.

U.S. markets had a tough September and investors could face greater volatility given a variety of concerns including COVID-19 and its lingering impact on the economy, as well as a slow recovery in the labor market. .

Concerns over struggling Chinese real estate developer Evergrande still weigh on global markets. Some Chinese banks on Friday revealed what they were owed by Evergrande, seeking to allay fears of financial turmoil as it grapples with $ 310 billion in debt.

In energy trading, benchmark US crude added 91 cents to $ 74.89 a barrel in electronic trading on the New York Mercantile Exchange. It rose 68 cents to $ 73.98 a barrel on Friday. Brent crude, the international standard, gained 94 cents to $ 79.03 a barrel.

In currency trading, the US dollar edged down to 110.68 Japanese yen from 110.72 yen. The euro cost $ 1.1710, compared to $ 1.1714.

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