Asian markets slip amid coronavirus cases, U.S. stimulus woes

Mainland Chinese stocks declined in early trade, with the Shanghai Composite down about 0.37% while the Shenzhen component was fractionally lower.

Oct 27, 2020 10:10 IST India Infoline News Service

Nikkei
Asian stock markets were trading lower following an overnight tumble on Wall Street, also rising global coronavirus cases and slow progress on a U.S. stimulus deal.

Mainland Chinese stocks declined in early trade, with the Shanghai Composite down about 0.37% while the Shenzhen component was fractionally lower. The Nikkei 225 shed 0.37% while the Topix index fell 0.38%.

South Korea’s Kospi is also down 0.42% and also stocks in Australia dropped, with the S&P/ASX 200 down 1.5%.

According to the country’s National Bureau of Statistics Profits, China’s industrial firms jumped 10.1% yoy in September.

Overnight stateside, the Dow Jones Industrial Average closed 650.19 points lower, or 2.3%, at 27,685.38. The S&P 500 fell 1.9% to finish its trading day at 3,400.97 while the Nasdaq Composite dipped 1.6% to close at 11,358.94.

Meanwhile, oil prices were higher, with international benchmark Brent crude futures up 0.15% to $40.52 per barrel and U.S. crude futures also gained 0.18% to $38.63 per barrel.

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