China shares support Asian markets; virus, presidential debate dampen mood
Chinese shares lifted Asian share markets on Monday. However, market sentiment was dampened ahead of a U.S. Presidential debate and as an upsurge in new coronavirus infections dragged investors’ optimism for global recovery.
While MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% gain, it still placed near a two-month low seen last week. The index is set to close its monthly session at low levels after three consecutive months of gains.
Despite a turbulent session seen in Asia, Chinese shares supported the region as blue chips advanced 0.85%. Meanwhile, Shanghai’s SSE tallied a 0.5% gain. Japan’s benchmark index Nikkei jumped 0.75%, while South Korea’s KOSPI gained 1.1%.
Australia’s S&P/ASX 200 salvaged initial losses backed by positive news that virus cases in Victoria had dropped, allowing authorities to lift some virus-related restrictions in the area.