European shares fall,Asian shares mix on hope of vaccine-led economic recovery

Gulf Today Report 

European shares declined on Monday due to worries of risk surrounding higher inflation that has affected hope for a. 

The pan-European STOXX 600 index was down 0.7% by 08:10 GMT. Britain's FTSE 100 dropped 0.4%. 

Europe will decide whether to extend the suspension of its rules limiting budget deficits and debt, known as the Stability and Growth Pact (SGP), in coming weeks, the Commissioner for Economy Paolo Gentiloni said.

Asian shares

Asian shares mixed on Monday on hope for economic recovery due to the rollout of the global vaccine. 

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Benchmarks rose in Japan but fell in South Korea, Australia and China. 

Investors remain are keeping an eye on stimulus fixing the global economies hit by COVID-19. 

But the US $1.9 trillion economic package proposed by President Joe Biden also heralds hope for export-reliant regional economies. 

Japan's benchmark Nikkei 225 gained 0.6% to 30,203.61. South Korea's Kospi dipped 0.8% to 3,082.45. Australia's S&P/ASX 200 edged down 0.2% to 6,780.90. Hong Kong's Hang Seng fell 0.5% to 30,479.73, while the Shanghai Composite dropped 1.0% to 3,658.59. 

Japan began administering vaccines for COVID-19 last week. It was the last of the Group of Seven industrial nations to get started. 

Vaccination drives are set to start soon in other Asian nations, such as Malaysia, Vietnam and the Philippines.