Most Asian markets fell Monday following another disappointing performance on Wall Street with investors growing concerned about an uptick in coronavirus infections in Europe and the United States, as well as the lack of movement in Washington on a new stimulus.
Asian shares posted gains on Monday and the euro rose to four-month highs, as EU leaders appeared to make some headway after three days of haggling on a plan to revive their economies, even as coronavirus cases increased in many countries.
All major Asian indexes were upbeat with Japan's Nikkei rising 0.1%, China's blue-chip index adding 1.7% while Hong Kong's Hang Seng index climbed 1.8%.
Asian shares climbed toward five-month peaks on Monday as investors wagered the U.S. earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns.
Markets rose last week after unexpectedly strong U.S. jobs data despite some American states reporting record new coronavirus infections.
Asian markets were mixed Thursday as investors juggled hopes for a new stimulus deal in Washington with concerns about the virus and another flare-up between China and the United States.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4%, paring some of its 2% losses the previous day, while Nikkei slid 0.3% on concerns about rising virus infections in Tokyo.
Asian markets mostly fell Monday with sentiment depressed by a spike in coronavirus infections that has forced fresh lockdowns and sparked worries about the impact on the world economy.
Japan’s benchmark Nikkei 225 finished at 23,290.86, down less than 0.1%. Australia’s S&P/ASX 200 lost 0.7% to 6,116.40. South Korea’s Kospi was little changed but inched down less than 0.1% to 2,365.84. Hong Kong’s Hang Seng edged 0.1% lower to 25,451.22, while the Shanghai Composite shed 1.5% to 3,324.35.