The Coronavirus is spreading in the world and the Asian markets have not come to rest.
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(Photo: dpa)
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Tokyo The Asian equities have not been able to shake it off on Monday, the growing fears of a second infectious wave. Rising Coronavirus case, especially in the United States, the hopes of the investors, dampened the numbers on a quick economic recovery.
After a sell-out at the beginning of the year share prices had risen in the last three months in the world, supported by massive Stimulus around the world and the hope that the worst of the pandemic was over. “The market is surprisingly resilient. Maybe a lot of investors think that there is an upward trend. But we need to keep the rising Coronavirus infections in some countries in the eye,“ said Hirokazu Kabeya, chief global strategist at Daiwa Securities.
The stock market in Tokyo has shown, therefore, on Monday first, uneven. The 225 values comprehensive Nikkei Index was over 0.1 percent higher at 22.499 points. The broader Topix Index remained unchanged and stood at 1582 points.
The Shanghai stock exchange was 0.3 percent in the Plus. The Index of the most important companies in Shanghai and Shenzhen, gained 0.4 percent. The MSCI Index for Asian shares outside Japan rose 0.5 percent.
A rise in infection numbers may only be met with a new Lockdown of the economy. “The second wave will be a theme for the markets. The increase in States such as Florida and South Carolina is large enough to be used as a second wave,“ said Yoshinori Shigemi, a global strategist at JPMorgan Asset Management. “If it comes to the restrictions that may vary depending on the Region. It is a tough decision for the politicians. But you probably have no other choice, if you have the hospital run out of beds,“ he said.
The Coronavirus continues to spread worldwide: The world health organization (WHO) reported on Sunday a record increase in the number of worldwide confirmed Coronavirus cases.
In Asian currency trading, the Dollar remained almost unchanged at 106,88 Yen and rose 0.1 percent to 7,0777 Yuan. The Swiss currency traded 0.1 percent lower 0.9517 francs. In Parallel, the Euro rose 0.2 percent to 1,1192 dollars, and put on 0.1 percent to 1,0653 francs. The pound Sterling gained 0.1 percent to 1,2370 dollars.
More: Read the latest developments on the Corona-pandemic in our news blog.
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