|Day's range||25,849.78 - 26,299.84|
|52-week range||21,139.26 - 29,174.92|
Asian stocks dithered on Wednesday as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery while oil prices eased on oversupply fears. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> were a tad lower after hitting a 4-1/2 month high just on Tuesday. Australian shares <.AXJO> were down 0.4% as were indexes for New Zealand <.NZ50> and South Korea <.KS11>.
Asian stocks dithered on Wednesday as an increase in coronavirus cases in some parts of the world undermined prospects for a quick economic recovery while oil prices eased on oversupply fears. MSCI's broadest index of Asia-Pacific shares outside Japan inched up but was still lower than a 4-1/2-month high reached just on Tuesday. Australian shares ended 1.5% lower on renewed fears about the coronavirus pandemic after a rise in cases in the country's second biggest city.
Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new coronavirus cases in some parts of the world undermined prospects for a quick economic recovery. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, still lower than a four-and-a-half-month high reached the day before.
The rally comes after a major state-owned financial newspaper said that China requires a bull market to build strength, reviving memories of the bull run of 2015.
Stocks retreated across the world on Tuesday, ending a six-day global rally that had brought equities in the US within striking distance of positive territory for the year. The declines, which accompanied a spurt of buying of haven assets including US Treasuries and UK gilts, came as traders weighed flare-ups in coronavirus cases in several parts of the world. On Wall Street, the S&P 500 fell 1.1 per cent, with roughly four shares falling in the index for each stock that advanced.
Investor caution over renewed coronavirus-related lockdowns buoyed the dollar and snapped a five-day rally in most world equity markets on Tuesday, but was not enough to halt a hot streak in Chinese stocks. The dollar edged higher as risk currencies such as the Australian dollar took a breather from recent gains and gold dipped as investors booked profits after bullion rallied to a near eight-year peak, trading around $1,780 an ounce. Bourses in London, Paris and Frankfurt fell about 1% for most of the session before paring some losses, while losses were greater on Wall Street even as the Nasdaq posted a fresh intraday high before closing down.
The Australian stock market closed lower as state border closures sparked fear of a second wave that could damage the country’s economic rebound.
Asian stocks were set for a mixed open on Wednesday, as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery, leading some investors to cash in on recent gains ahead of earnings season. Australian S&P/ASX 200 futures <YAPcm1> lost 0.50% in early trading, while Japan's Nikkei 225 futures <NKc1> added 0.11%, and Hong Kong's Hang Seng index futures <.HSI> <HSIc1> rose 0.39%. The United States reported tens of thousands of new coronavirus infections, prompting New York to expand its travel quarantine for visitors from three more states, while Florida's greater Miami area rolled back its reopening.
Sterling will be back in investors’ sights on Monday, when UK and EU negotiators are scheduled to meet in London to hammer out an arrangement on their post-Brexit relations by the end of the month. After four days of talks last week, Michel Barnier, the EU’s chief negotiator, raised the prospect of a deal, and the pound responded. Unless the UK meets its self-imposed end-July deadline for a trade deal with the EU, it will drop out of the EU’s single market and customs union at the end of this year, having left the bloc in January.
World stocks rose for a fourth straight day on Thursday after U.S. payrolls increased by a record 4.8 million in June, but the dollar and Treasury debt prices also edged up, which suggested lingering concern about rising COVID-19 cases in many U.S. states. New cases shot up by nearly 50,000 in the United States on Wednesday, according to a Reuters tally, marking the biggest one-day spike since the start of the pandemic. "The strong rebound would normally be an unambiguously positive sign that a recovery is under way (but) it is being accompanied by a sharp rise in new infections, which was what caused the collapse in the first place," said Mike Bell, global market strategist at JP Morgan Asset Management in London.
US stocks jumped at the opening bell after a strong jobs report fuelled hopes that the world’s largest economy is on track for a recovery from the damage caused by the coronavirus pandemic despite a recent rollback in lockdowns. The jobs figures were collated in the second week of last month, before the recent spike in infections.
A measure of stocks across the globe rose for a fourth straight day on Thursday after June U.S. payrolls grew by a record 4.8 million, but investors also flocked to the safe-haven dollar and U.S. Treasuries on concerns about surging COVID-19 cases in many U.S. states. Several states, along with some other parts of the world, are reversing or pausing reopenings to tackle a recent surge in infections, leaving analysts worried about another sell-off in financial markets if the damage mounts.
In the streets of Hong Kong, activists protest against China's new security law. Hong Kong markets will benefit from more listings by Chinese companies, more mainland money, and more financial links with the world's second-biggest economy, traders and analysts say, despite legislation some fear will erode the city's freedoms. Beijing unveiled the law on Tuesday, and Hong Kong police made their first arrests of protesters under the legislation on Wednesday.
Stocks across the globe rose on Wednesday following data pointing to a recovery in manufacturing and on bets for a COVID-19 vaccine, while the risk-on mood pushed the U.S. dollar lower. Germany's manufacturing sector contracted at a slower pace in June, while activity in the United States hit a 14-month high. On Thursday, the market's focus will be on the U.S. non-farm payrolls report for June.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> inched 0.2% higher, led by a 0.8% rise in Chinese blue chips <.CSI300>. Sentiment had been boosted by signs that China's factories are slowly gathering steam, with the Caixin/Markit manufacturing PMI rising to 51.2, compared with expectations for 50.5. Hong Kong police said they arrested a man holding a pro-independence flag in the first apparent use of new security laws that were imposed by China on its freest city late on Tuesday evening.
Asian stocks are advancing on the final trading day of June, after a positive session on Wall Street, with market sentiment buoyed further by China’s better-than-expected June PMI readings. The data makes for encouraging signs that the world’s second largest economy is well on its way in overcoming the pandemic.
A global stocks index rose on Tuesday and marked its largest quarterly gain since 2009 as investors continued to look for signs of an economic recovery while shrugging off data showing a rising number of COVID-19 cases. World shares rose 18.7% this quarter, the biggest quarterly gain in 11 years, but are still down more than 7% so far this year due to a slump of 34% between Feb. 12 and March 23.
China said Monday it will impose visa restrictions on U.S. individuals with “egregious conduct” on Hong Kong-related issues, mirroring U.S. sanctions.
The United States is imposing visa restrictions on Chinese Communist Party officials believed responsible for restricting freedoms in Hong Kong.
US stocks dropped on Friday after Texas and Florida rolled back reopening measures, raising fresh fears that the coronavirus would derail an economic recovery. Banks were among Wall Street’s sharpest fallers after the US Federal Reserve told them to limit shareholder payouts. In New York the S&P 500 ended down 2.4 per cent for its lowest close since June 11.
Global equities sank and perceived safe-haven assets like U.S. Treasuries and gold gained on Friday as investors weighed hopes that Europe will continue to rebound from the coronavirus pandemic's economic damage against concerns over a record surge in new COVID-19 infections in the United States. The euro zone is "probably past" the worst of the economic crisis, European Central Bank President Christine Lagarde said, while urging authorities to prepare for a possible second wave. There were at least 39,818 new coronavirus cases across the United States on Thursday, the largest one-day increase yet.
China stocks closed the shortened three-session week on a firmer note, as investors cheered Beijing’s latest reforms in its capital markets.
Asian shares were mostly higher on Wednesday with another mood boost from Wall Street, but fears persist over the surge in coronavirus cases in parts of the world. Hong Kong's Hang Seng slipped 0.1% to 24,854.72, while the Shanghai Composite added 0.2% to 2,976.39. “The nuance though is that the recovery falls short of being entrenched," said Hayaki Narita of Mizuho Bank, adding trade contractions for various countries this year are expected to be the worst ever.
The dollar eased and global equity markets surged on Tuesday after reassurances on the U.S.-Sino trade deal and upbeat economic data from the United States and Europe brightened the prospect of a swift economic recovery. The euro hit a one-week high as higher-risk currencies, including the Australian dollar, rose after U.S. officials reaffirmed the trade deal following remarks by White House trade adviser Peter Navarro, who said late Monday the pact was "over." Beijing has actually stepped forward in a number of areas in a constructive way, Larry Kudlow, director of the national economic council, told Fox Business Network.