Asian markets plunge as investors weigh recent global virus fears

BEIJING (AFP) – Asian stock markets sank on Friday after some European countries tightened travel and business restrictions in the wake of a surge in coronavirus infections and South Africa announced a new variable.

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Shanghai, Tokyo, Hong Kong and Sydney prices fell. US markets were closed Thursday for the Thanksgiving holiday.

Austria Imposed a nationwide lockdown for 10 days After daily deaths from the virus tripled, while Italy imposed restrictions on the activity of people who were not immune. US government Americans are advised to avoid travel to Germany and Denmark. Scientists in South Africa say a new species is spreading among young people in the most populous province.

“Investors are likely to shoot first and ask questions later until more is known,” Oanda’s Jeffrey Haley said in a report.

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Shanghai Composite Index
SHCOMP,
-0.56%

It lost 0.6% to 3560.15 and the Nikkei 225
I,
-2.53%

NIY00,
-2.89%

In Tokyo, it fell by an unusually large margin of 2.8% to 28,656.17. Hang Seng
HSI,
-2.67%

In Hong Kong it fell 2.3% to 24,161.55.

Cosby
180721,
-1.47%

In Seoul it lost 1.4% to 2,938.09 and the S&P-ASX 200 in Sydney
XJO,
-1.73%

It fell 1.7% to 7,279. New Zealand and Southeast Asia markets also declined.

Wall Street S&P 500 benchmark index
SPX,
+ 0.23%

It closed up 0.2% on Wednesday. US markets Set to reopen Friday for a brief trading session after Thanksgiving.

Investors are more cautious yet Fed officials noted in notes from their October meeting It was released this week that they expect to respond to rising inflation by raising interest rates sooner than previously planned.

Financial markets were encouraged by strong US corporate earnings and signs that the global economy was rebounding from the historic downturn in activity last year due to the pandemic. Stock prices were boosted by credit easing and other actions taken by the Federal Reserve and other central banks.

Investors are concerned that central banks may feel pressure to withdraw stimulus earlier than planned due to stronger-than-expected inflation. The Fed previously said it expected to keep interest rates low until late next year.

In energy markets, US benchmark crude
CL00,
-5.49%

It was down 3% to $76.71 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude
BRN00,
-4.28%
And
The global oil price basis fell 2.2% to $79.09 a barrel in London.

dollar
us dollar against japanese yen,
-1.05%

It fell 0.5 percent to 114.67 yen from 115.36 yen on Thursday. euro
USDEUR,
-0.52%

It advanced 0.1% to $1.1226 from $1.1221.

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