Asian markets mixed with Nikkei 225 lower 1%

Shanghai Composite was 0.33% higher while Korean Kospii and Hongkong's Hang Seng were also higher in the same range as Shanghai Composite. Taiwan Weighted rose well over 1%.

Nov 18, 2020 11:11 IST India Infoline News Service

Asian stock markets were mixed after a muted start on Wednesday. Japanese Nikkei 225 fell by 315.65 points or 1.21% to 25.698.97 at around 11.20 am. SGX Nifty and Set Composite was also marginally in the red.

Shanghai Composite was 0.33% higher while Korean Kospii and Hongkong's Hang Seng were also higher in the same range as Shanghai Composite. Taiwan Weighted rose well over 1%.

The rising Covid-19 cases in Europe and US has weighed on the investors sentiments against optimism over a vaccine. Pharmacy chains were among the worst performers after Amazon.com Inc. unveiled a new push into prescription drugs.

Globally equities have seen record inflows as asset class rotation sees money chase riskier returns. Chinese economic activity continues to see expansion as most trade related issues are sorted with Asian partners which could see GDP surprise in next 6 months.

US markets ended in the red on Tuesday after profit booking emerges as Covid cases see massive surge. Dow Jones recovered from intra day lows of down almost 450 before closing down 167 points. Gold prices continue to see sell on rallies even as oil prices see best month till date.

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