Asian shares decline on virus-beaten sentiment

16.10.2020 - Petr Mazaylo
Asian shares decline on virus-beaten sentiment

Asian share markets shed initial earnings, recording a weak performance on Friday. This could be attributed to investors’ subdued sentiment as the United States and Europe monitored an upsurge of fresh coronavirus infections.

MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.22% decline. U.S. stock futures dropped 0.12%, while China shares advanced during their morning session. China’s upbeat performance failed to sustain its momentum as shares plunged 0.55%.

Australian shares were seen subdued with a 0.72% loss. Japanese shares declined 0.49%, while South Korean shares dropped 0.99%.

In a bid to increase his political traction for the upcoming presidential poll, U.S. President Donald Trump offered to provide large volumes of stimulus. While his promise helped Wall Street salvage initial losses, many investors believe that a deal is unlikely before the elections on Nov. 3.

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