Asian markets mostly down as traders prepare for big week
AFP HONG KONG :
Asian markets mostly fell Monday following last week’s rally as investors prepare for a big week that could see the vaccine rollout begin in earnest and US lawmakers agree a new stimulus, while post-Brexit trade talks remain on a knife-edge.
But while the general consensus is for a strong recovery in 2021 as billions are inoculated, the surge in virus cases around the world and ongoing China-US tensions continue to keep a lid on sentiment.Regional traders were unable to build on last week’s advances, despite all three Wall Street indexes chalking up records Friday thanks to signs of movement in US stimulus talks and hopes for the vaccine.Optimism US lawmakers will finally agree a rescue package was given a boost Friday with data showing the world’s top economy created far fewer jobs than forecast in November as the country is battered by a frightening jump in infections that is forcing leaders to impose containment measures.
Senate Republican Leader Mitch McConnell and Democratic House Speaker Nancy Pelosi have revived efforts to hash out a deal for more aid, with both recognising the need for help for Americans as Christmas approaches.
Senators and their teams worked all weekend on a detailed bill, which “will probably come out early this week”, Republican senator Bill Cassidy told “Fox News Sunday”.
Asian markets mostly fell Monday following last week’s rally as investors prepare for a big week that could see the vaccine rollout begin in earnest and US lawmakers agree a new stimulus, while post-Brexit trade talks remain on a knife-edge.
But while the general consensus is for a strong recovery in 2021 as billions are inoculated, the surge in virus cases around the world and ongoing China-US tensions continue to keep a lid on sentiment.Regional traders were unable to build on last week’s advances, despite all three Wall Street indexes chalking up records Friday thanks to signs of movement in US stimulus talks and hopes for the vaccine.Optimism US lawmakers will finally agree a rescue package was given a boost Friday with data showing the world’s top economy created far fewer jobs than forecast in November as the country is battered by a frightening jump in infections that is forcing leaders to impose containment measures.
Senate Republican Leader Mitch McConnell and Democratic House Speaker Nancy Pelosi have revived efforts to hash out a deal for more aid, with both recognising the need for help for Americans as Christmas approaches.
Senators and their teams worked all weekend on a detailed bill, which “will probably come out early this week”, Republican senator Bill Cassidy told “Fox News Sunday”.
