Asian shares drop amid worries over spreading COVID-19 cases

Asian shares have opened lower as rising cases of coronavirus infections in the U.S., Europe and Asia add to worries that economies will once again be hamstrung by pandemic restrictions on travel and businesses.

Reports of surging COVID-19 cases have had a sobering effect on markets that had advanced on hopes for a vaccine and expectations that pro-business policies will continue after last week’s U.S. elections.

Asian Shares

  • Japan’s benchmark Nikkei 225 sank 1.0% to 25,254.31.
  • Australia’s S&P/ASX 200 fell 0.5% to 6,383.70.
  • South Korea’s Kospi edged 0.2% lower to 2,471.26.
  • Hong Kong’s Hang Seng slipped 0.8% to 25,958.49.
  • The Shanghai Composite dipped 1.3% to 3,294.57.

Oil Prices

  • In energy trading, benchmark U.S. crude lost 45 cents to $40.67 a barrel in electronic trading on the New York Mercantile Exchange.
  • It lost 33 cents to $41.12 on Thursday.
  • Brent crude, the international standard, fell 43 cents to $43.10 a barrel.

Currency

  • In currency trading, the U.S. dollar edged down to 104.88 Japanese yen from 105.13 yen late Thursday.
  • The euro cost $1.1810, up from $1.1803.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More