Stock reduces recovery chances for new COVID-19 strain

HONG KONG (Reuters) – Easy stocks widened losses on Tuesday, extending a pullback from multi-year highs last year in anticipation of a highly contagious new strain of COVID-19 that hit the UK in a global economic recovery. It is possible.

File photo: An investor puts his hands behind his head in front of an electronic board showing stock information in a brokerage house in Hefei, Anhui Province, China, May 2, 2012. REUTERS / stringer

Sentiment continues to fall, with a 0.14% drop in FTSE futures and a 0.29% drop in the S&P 500 index, even as the US Congress approved a long-awaited $ 892 billion coronovirus aid package on Monday .

Australia’s S&P / ASX 200 was down 1.21%. Japan’s Nikkei 225 was down 0.77% in the afternoon session, touching its lowest level in two weeks, as investors benefited from stellar gains over the past few months.

“Any sale is probably not going to find much resistance. The clients I speak with tend to get some profit rather than accumulating more money, ”said John Milleroy, investment advisor at Sydney Stockbroker Ord Minnet.

MSCI’s gauge of Asia Pacific shares outside Japan fell 0.75%. The Hang Seng index slipped 0.63% and China’s benchmark CSI300 index fell 0.35%.

“The rise of European COVID-19 restrictions in response to apprehensions about a new version, which should be fast-spreading, and of course, elicit negative feedback from prices through a global growth impact.” Said Stephen Innes, chief global market strategist at Axi.

“The condition of the ilkid will remain until the end of the year, but declining in this way may reduce the chance of anything happening,” he said.

Countries around the world closed their borders to Britain on Monday due to fears about a new strain of coronovirus, saying it is 70% more permeable than the original, causing travel chaos and before being set for Britain The possibility of food shortages increases. Leave the European Union.

The discovery of new strains, widely expected to be available a few months before the vaccine, sparked renewed fears about the virus, which killed about 1.7 million people worldwide. European shares fell as a result in their worst session in nearly two months on Monday.

Sterling fell 2.5% to $ 1.3190 on virus concerns. The dollar against a basket of currencies has led to third-quarter losses in a row and is down 12.5% ​​from a three-year peak in March.

US crude fell 0.34% to $ 47.63 a barrel on hopes of lower oil demand, while Brent was down 0.55% to $ 50.63.

Spot gold rose 0.1% to $ 1,878.15 an ounce, with a month-long high-reserve assets before the session.

Reporting by Ken Wu in Hong Kong; Additional reporting by John McRunk in New York; Editing by Sam Holmes


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