login
  • SUBSCRIBER
  • User Name
  • Password
  • Remember Me
ad
19 Jan 2021, 17:48 HRS IST
|
  • PTI
add
add
  • Asian stocks mixed after Wall St slips near record high

  • Advertisement
  •  Share
  • Print Print
  •  E-mail
  • Comments Comment
  • [ - ] Text [ + ]
9:17 HRS IST

Beijing, Dec 4 (AP) Asian stock markets followed Wall Street lower Friday after Pfizer Inc cut the number of doses of a planned coronavirus vaccine it might ship this year.



Benchmarks in Shanghai, Tokyo and Hong Kong, which are the bulk of the region's market value, retreated while Sydney advanced.

Wall Street's benchmark S&P- 500 index closed 0.1 per cent lower on Thursday, falling short of a new record, after Pfizer reduced the number of vaccine doses it might ship this year by half to 50 million.

The company told The Wall Street Journal testing and setting up a supply chain took longer than expected.

Also Thursday, US health authorities reported a one-day record of 3,157 virus deaths.

Before we can make new gains, there is the usual sentiment tug of war between medium-term optimism and near-term COVID-19 despair, said Stephen Innes of Axi in a report.

The Shanghai Composite Index lost 0.6 per cent to 3,423.35 and the Nikkei 225 in Tokyo sank 0.5 per cent to 26.680.68. The Hang Seng in Hong Kong retreated 0.2 per cent to 26,685.59.

The Kospi in Seoul gained 1.6 per cent to 2,739.21 and Sydney's S&P-ASX 200 was 0.4 per cent higher at 6,640.60. New Zealand and Jakarta declined while Singapore advanced.

Investor sentiments have risen on hopes one or more coronavirus vaccines might be available next year despite the challenges of making and distributing billions of doses that must be kept frozen.

On Wall Street, the S&P 500 slipped to 3,666.72.

The Dow Jones Industrial Average gained 0.3 per cent to 29,969.52. The Nasdaq composite added 0.2 per cent to 12,377.18.

Investors have been encouraged by signs that Democrats and Republicans in Washington may get past their bitter partisanship to reach a deal to provide more financial support for the economy.

House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell spoke Thursday after Pelosi signaled a willingness to make major concessions in search of a coronavirus rescue package.

President-elect Joe Biden urged Congress on Wednesday to pass a relief bill now, with more aid to come next year.

An industry group reported Thursday that US service industries grew in November but the pace slowed for a second month.

The Institute for Supply Management's index of services activity declined to 55.9 from October's 56.6.

Readings above 50 represent expansion in industries such as restaurants and bars, retail stores and delivery companies.

A separate report said fewer Americans filed for unemployment benefits last week than forecast, though economists cautioned that number may have been distorted by the Thanksgiving Day holiday.

Oil prices edged higher after OPEC and allied countries including Russia agreed Thursday to increase oil production by 500,000 barrels per day starting from January. They slashed output earlier to shore up price as the pandemic and controls on business and travel depressed demand.

Benchmark US crude gained 68 cents to USD 46.32 per barrel in electronic trading on the New York Mercantile Exchange.

The contract rose 36 cents on Thursday to USD 45.64 a barrel. Brent crude, used to price international oils, was 91 cents higher to USD 49.62 per barrel in London. It added 46 cents the previous session to USD 48.71 a barrel.

The dollar declined to 103.83 yen from Thursday's 103.97 yen. The euro edged up to USD 1.2145 from USD 1.2143.

  • Post your comments