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TOKYO – Asian stocks were mostly higher on Monday, but fears of further waves of coronavirus outbreaks clouded the region’s economic outlook, tempering the recovery.
The Japanese reference Nikkei 225 NIK,
increased by 0.3%. the Australian S & P / ASX 200 XJO,
gained 0.7% and the South Korean Kospi 180721,
added 0.4%. Hang Seng HSI from Hong Kong,
added 0.8%, while the Shanghai Composite SHCOMP,
lose 1.3%. Shares fell in Indonesia JAKIDX,
but advanced to Taiwan Y9999,
and Singapore STI,
Japan’s ruling party will hold 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 of the candidates are certain to stick to the nation’s pro-American policies, despite some nuance in their views.
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 that Japan’s central bank’s third-quarter economic “tankan” survey, due on Friday, is likely to show worsening trading conditions due to various supply chain disruptions and new outbreaks. COVID-19 in many areas.
Although 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 could remain resilient, as shown by previous rounds of restraint, but the service sector could come 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.
Wall Street closed a choppy trading week with a mixed finish for major stock indexes, although the S&P 500 managed its first weekly gain in three weeks.
The S&P 500 SPX,
rose 0.1% to 4,455.48 and is now less than 1.9% of the all-time high it reached on September 2. The Dow Jones Industrial Average DJIA,
added 0.1% to 34,798. The Nasdaq COMP,
slipped less than 0.1% to 15,047.70, while the Russell 2000 fell 0.5% to 2,248.07.
US markets had a difficult September and investors could face greater volatility given various 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 3333,
still weigh heavily on world markets. Some Chinese banks on Friday revealed what they were owed by Evergrande, seeking to allay fears of financial turmoil as it grapples with debt of less than $ 310 billion.
In energy trading, the American benchmark CLX21,
added $ 1.17 to $ 75.15 a barrel in electronic trading on the New York Mercantile Exchange. It rose 68 cents to $ 73.98 a barrel on Friday. Brent crude BRNX21,
the international standard, gained $ 1.29 to $ 79.38 a barrel.
In currency trading, the US dollar USDJPY,
fell to 110.69 Japanese yen from 110.71 yen.
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