Asian Stock Market: China steadies after $1.3 trillion equity rout, Biden tries to appease bullsNEWS |
3/12/2021 4:03:35 AM GMT | By Anil Panchal
Asian equities trade mixed as economic recovery hopes fail to extend the previous day’s stimulus-backed rally.
Markets in China stabilize despite early warning of the Sino-American and Canberra-Beijing tussles.
Vaccine news, Treasury moves keep traders confused amid a light calendar.
Asian shares dribble near the multi-day top on early Friday as markets couldn’t cheer US President Biden’s first prime-time appearance amid a potential “sell the fact” trade. Also probing the mood could be mixed vaccine updates and likely geopolitical tension concerning China. Even so, MSCI’s index of Asia-Pacific shares outside Japan prints 0.27% intraday gains whereas Japan’s Nikkei 225 gains over 1.0% amid hopes of further stimulus from the Bank of Japan.
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HSI eases on sluggish US stimulus, Brexit talks
2020-12-10 HKT 17:01
Local shares finish nearly 100 points lower on Thursday. Image: Shutterstock Shares in Hong Kong and the region followed the lead of Wall Street and finished Thursday on a negative note, as investors traded cautiously after US lawmakers failed to agree on an economic aid package and a deadlock in Brexit trade talks.
Locally, the Hang Sang index dropped as many as 215 points, but clawed back some of the losses to end the day 92 points, or 0.4 percent lower, at 26,410, on turnover of HK$110 billion.
Tencent tumbled 1.2 percent and Alibaba retreated more than 2 percent.