TOKYO – Asian shares fell marginally on Tuesday, with Wall Street expecting a fade as Washington would come through badly needed aid to the economy ahead of the US presidential election.
The market is focused on US help in the midst of global uncertainty amid continued economic damage from the coronovirus epidemic, which has slowed growth with social far-reaching restrictions, unemployment, crisis-ridden trade, as well as tourism and trade closures.
In morning trading fell by 0.3% while that of Kospi 180721 of South Korea,
Slipped 0.2%. Australia’s S&P / ASX 200XJO,
Fell by about 0.3%. Hong Kong’s Hang Seng HSI,
Shanghai Composites down 0.1%, lower than SHCOMP
Slipped 0.3%. Benchmark Index Y9999 in Taiwan,
And Indonesia JAKIDX,
Stephen Ince, chief global market expert at Axi, said, “As expected before the election, the balloon defaults and the stock struggles to float on its own during the earnings season, with times of exhaustion and To overcome due to exhaustion.
“And with no shortage of uncertainly overseeing markets, investors continue to deal with the final presidential debate carefully.”
Market players are looking for additional data on China’s recovery, as it may necessarily accelerate growth in the rest of Asia. Recent data from Japan suggest that exports to China are slowly recovering.
On Wall Street, the S&P 500 dropped 1.6%, its worst day in more than three weeks. Wall Street is hopeful that lawmakers will agree on new stimulus measures for the economy, but have reduced the odds before the November 3 election.
S&P 500 SPX,
It fell 56.89 points to close at 3,426.92. Dow Jones Industrial Average DJIA,
The big blue chips fell 410.89 points, or 1.4%, to 28,195.42. Nasdaq Composite Comp,
Increased their losing rhythm to fifth day, losing 192.67 points or 1.7%, at 11,478.88.
Stocks are mostly pushing higher this month after suddenly withdrawing some of their big gains in September. The benchmark S&P 500 has gained in each of the last three weeks. Nevertheless, trade is often choppy from one day to another, reflecting uncertainty at times of greater stimulus for the economy.
Investors were also eager for another busy week of corporate earnings reports. Across the S&P 500, analysts expect to report another drop in companies’ profits.
In energy trade, US benchmark crude CLX20,
Fell 26 cents to $ 40.57 a barrel. Brent crude BRNZ20,
International standard, lost 29 cents to $ 29.33 per barrel.
US Dollar USDJPY,
By 105.46 yen to 105.58 Japanese yen by late Monday.