GLOBAL MARKETS-Asian shares blended on fading U.S. stimulus hopes, virus issues

GLOBAL MARKETS-Asian stocks mixed on fading U.S. stimulus hopes, virus concerns

NEW YORK, Oct 14 (Reuters) – Asian markets have been off to a blended begin on Thursday as hopes of U.S. fiscal stimulus earlier than the presidential election pale and a file variety of new coronavirus infections in components of Europe propelled buyers towards safe-havens comparable to gold.

Downbeat feedback from U.S. Treasury Secretary Steven Mnuchin {that a} stimulus deal was unlikely be made earlier than the Nov. 3 vote weighed on fragile investor sentiment.

With COVID-19 circumstances surging, some European nations are closing colleges as authorities braced for a repeat of the nightmare state of affairs seen earlier this 12 months.

In a blended Asian open, Australian equities bucked Wall Road declines, opening barely increased due to “good assist” for materials and mining shares, mentioned Michael McCarthy, CMC Markets chief market strategist.

MSCI’s broadest index of Asia-Pacific shares exterior Japan slipped 0.1%.

Australia’s S&P/ASX 200 rose 0.6%, whereas Japan’s Nikkei 225 fell 0.3%. Hong Kong’s Hold Seng index futures have been down 0.49%.

E-mini futures for the S&P 500 have been flat.

On Wall Road, the Dow Jones Industrial Common fell 0.58%, the S&P 500 misplaced 0.66% and the Nasdaq Composite dropped 0.8%.

Financial institution of America fell 5.3% and Wells Fargo, each U.S. banks, tumbled 6% after a disappointing quarterly outcomes.

Gold gained 1% on Wednesday, rebounding from a pointy decline within the earlier session, boosted by a weaker U.S. greenback and financial uncertainties.

Spot gold added 0.5% to $1,900.89 an oz..

The Australian greenback slid to a one-week low of $0.7129 on Thursday morning after dovish feedback from the central financial institution governor that recommend one other price reduce is feasible.

E-mini futures for the S&P 500 have been flat.

Australia is about to launch September unemployment information on Thursday.

Tensions between Beijing and Washington stay in view because the U.S. State Division has submitted a proposal for the Trump administration so as to add China’s Ant Group IPO-ANTG.HK to a commerce blacklist, in keeping with two folks accustomed to the matter, earlier than the monetary expertise arm of e-commerce large Alibaba is slated to go public.

Buyers are additionally monitoring Brexit talks, because the deadline for a pact on the European Union’s relations with Britain nears. EU leaders assembly on Thursday and Friday will inform their Brexit negotiator Michel Barnier to step up talks to get a deal by Jan. 1, 2021.

The U.S. greenback index, which measures the dollar in opposition to a basket of six main currencies, fell 0.15%, after pulling its finest day in three weeks on Tuesday, with the euro unchanged at $1.1746.

In an indication that some buyers most popular historically safer property for now, the yen gained 0.4% to hit a close to two-week excessive of 105.11 in opposition to the greenback.

A weaker greenback, which makes oil cheaper for holders of different currencies, supported oil costs.

Brent crude gained 92 cents, or 2.2%, to $43.37 a barrel, whereas U.S. West Texas Intermediate added 87 cents, or 2.2%, to $41.0.

Reporting by Suzanne Barlyn; Enhancing by Sam Holmes

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