· Asian stocks struggle as investors focus on U.S. dollar
Asia’s stock markets struggled for gains on Wednesday and the U.S. dollar rose to a two-month high as persistent worries about the global economic recovery had investors preferring safety.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% for its first gain this week, but the mood was hardly bullish.
Japan’s Nikkei returned from a two-day holiday to slip 0.4%. Markets elsewhere offered only a lacklustre follow up to Wall Street’s rebound, with Hong Kong and Shanghai steady.
The standout mover was the gaining dollar, which briefly sent spot gold to a six-week low of $1,881.65 an ounce.
· Nikkei ticks down on virus and stimulus worries after long weekend
Japanese shares eased on Wednesday as the market caught up with the losses in global markets following the country’s long weekend, weighed down by fears about rising coronavirus infections and a delay in U.S. fiscal stimulus.
Automakers and other value shares fell the most, but losses were capped as gaming companies and internet-related stocks outperformed on worries about the COVID-19 pandemic.
The Nikkei share average shed 0.06% on its first trade since Friday to 23,346.49. The broader Topix was down 0.13% at 1,644.25.
The Topix value index lost 0.70%, compared with a 0.34% gain in growth shares.
· China stocks close higher as healthcare shares shine on policy boost
China stocks ended higher on Wednesday, underpinned by gains in tech-heavy start-up board ChiNext and healthcare shares, after the state planner said the country would accelerate development of coronavirus vaccines.
At the close, the Shanghai Composite index was up 0.17% at 3,279.71. The blue-chip CSI300 index was up 0.36% at 4,652.33.
The smaller Shenzhen index ended up 0.72% and the start-up board ChiNext Composite index ended 1.735% higher.
· European stocks advance ahead of key euro zone data
European stocks climbed Wednesday ahead of key data releases from the euro zone.
The pan-European Stoxx 600 gained 0.7% in early trade, with tech stocks bouncing 1.5% while basic resources shed 0.3%.
European investors will be focused on the latest preliminary euro zone purchasing manager’s index (PMI) data for September. The data is due at 9 a.m. London time and will give an indication of the state of health of the region’s services and manufacturing industries.
Reference: Reuters, CNBC
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