GLOBAL MARKETS-Asian shares seen decrease on coronavirus, election uncertainty

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GLOBAL MARKETS-Asian shares seen lower on coronavirus, election uncertainty


Oct 28 (Reuters) – Asian markets seemed set for one more weaker open on Wednesday as worries a few surge in coronavirus circumstances and dwindling hopes for a U.S. stimulus bundle saved traders gloomy.

Australia’s ASX 200 opened down about 0.43%, whereas Japan’s Nikkei 225 futures had been down 0.36%. The Nikkei 225 index closed down 0.04% on Tuesday. The futures contract was down 0.62% from that shut.

Hong Kong’s Grasp Seng index futures had been up 0.4%.

MSCI’s gauge of shares throughout the globe was down 0.27%.

“Markets had a risk-off tone as U.S. shopper confidence knowledge disillusioned, COVID-19 circumstances proceed to rise, and the probabilities of a fiscal deal earlier than the U.S. election light,” ANZ analysts mentioned in a notice.

Traders appeared content material to avoid threat with looming uncertainty, headlined by the Nov. 3 U.S. presidential election. Former Vice President Joe Biden has loved a constant chief over President Donald Trump, however the race is nearer in battleground states that would decide the result.

U.S. markets slipped as Trump acknowledged an financial reduction bundle would possible come after the Nov. 3 election.

As well as, new knowledge confirmed U.S. shopper confidence dipping in October, though orders of key capital items hit a six-year excessive.

The Dow Jones Industrial Common fell 222.19 factors, or 0.8% and the S&P 500 misplaced 10.29 factors, or 0.30%. The Nasdaq Composite added 72.41 factors, or 0.64%.

Microsoft kicked off a slate of reporting from tech heavyweights by beating Wall Road estimates for quarterly income, buoyed by its flagship cloud computing enterprise amid elevated work-from-home preparations. Apple Inc, Amazon.com, and Google-parent Alphabet are amongst main tech gamers reporting later this week.

The U.S. greenback fell in opposition to larger threat currencies on uncertainty concerning the economic system and the presidential election. The greenback index, which measures the dollar in opposition to a basket of main currencies, weakened 0.1% to 92.93.

Brent crude closed up 75 cents, or 1.9%, as corporations shut down some manufacturing within the U.S. Gulf of Mexico forward of an approaching storm. U.S. oil gained $1.01 cents, or 2.6%.

Protected-haven U.S. Treasury yields fell on Tuesday and the yield curve flattened as markets saved searching for a stimulus deal. The benchmark 10-year yield was down 2.7 foundation factors in afternoon buying and selling at 0.776%. Gold costs additionally climbed.

Reporting by Pete Schroeder; enhancing by Richard Pullin



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