Asian stock markets close lower as investors cautious with rising Covid cases

In China, Shanghai Composite traded fractionally higher (0.11%).

Oct 29, 2020 02:10 IST India Infoline News Service

Asian stock markets closed lower on Thursday. Taiwan Weighted and Strait Times closed 1% lower while the Korean Kospi index fell 0.79%.

SGX Nifty was 0.69% down, stocks in Japan (Nikkei 225) declined 0.37% and in Hong Kong, the Hang Seng index closed down 0.49%.

In China, Shanghai Composite traded fractionally higher (0.11%) ,while Set Composite traded 0.70% lower.

Earlier, Asian markets opened weak after the sharp sell-off on Wall Street with the South Korean Kospi and Japanese Nikkei failing early.

The rise in Covid cases led to losses in the US market on Wednesday and it reflected in the Asian markets on Thursday. The partial lockdown in Europe also weighed on investor sentiment. However, European markets trade higher.

Brent crude oil was 2.15% lower, selling at USD38.28 per barrel

Meanwhile, the domestic indices are also bearish following the global cues. At around 2.45 pm, BSE Sensex is trading at 39,696.61 down 225.85 or 0.57% and Nifty50 is trading at 11,649.60 down 80.00 or 0.68%.

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