Connect with us

Hot world news

Asian stocks follow Wall Street lower on lack of US aid plan

Asian stocks follow Wall Street lower on lack of US aid plan

ECONOMIC NEWS

Asian stocks follow Wall Street lower on lack of US aid plan

Asian stocks are following Wall Street lower as investors watched for signs of progress in negotiations over a U.S. economic aid planBy JOE McDONALD AP Business WriterOctober 22, 2020, 3:46 AM• 3 min readShare to FacebookShare to TwitterEmail this articleBEIJING — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov. 3 presidential election.Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated.On Wall Street, the benchmark S&P 500 index lost 0.2% on Wednesday as U.S. political leaders wrangled over economic aid following the expiration of extra unemployment benefits that propped up consumer spending. Democrats are pressing President Donald Trump’s Republicans to expand a proposed package.The speaker of the House of Representatives, Nancy Pelosi, said she made progress in talks with the White House. But a potential agreement might face opposition in the Senate, where Majority Leader Mitch McConnell told fellow Republicans he warned the White House not to seal a relief deal before the election.“Fiscal stimulus deal optimism has faded,” said Mizuho Bank in a report.The Shanghai Composite Index lost 1% to 3,291.99 and the Nikkei 225 in Tokyo shed 0.8% to 23,454.85. The Hang Seng in Hong Kong retreated 0.3% to 24,683.33.The Kospi in Seoul was 0.8% lower at 2,353.32 and Sydney’s S&P-ASX 200 declined 0.6% to 6,153.50. New Zealand, Singapore and Jakarta also retreated.Markets are swinging between optimism about possible development of a coronavirus vaccine and uncertainty about the U.S. economic outlook without an aid package.On Wall Street, the S&P 500 declined to 3,435.56. The Dow Jones Industrial Average lost 0.4%. The Nasdaq composite gave up 0.3% to 11,484.69.Industrial and health care stocks declined. Communications services gained. Social media stocks rose after the photo service Snap reported bigger gains in revenue and users than expected.Google’s parent company rose 2.3%, adding to its gains from a day before when the Justice Department sued it for antitrust violations. Investors had already been expecting such action, and analysts said Google’s counterarguments mean it will likely take years to reach a resolution.In energy markets, benchmark U.S. crude lost 26 cents to $39.77 per barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract fell $1.67 cents to $40.03 a barrel Wednesday. Brent crude, the price standard for international oils, shed 23 cents to $41.50 per barrel in London. The contract declined $1.43 the previous session to $41.73 a barrel.The dollar gained to 104.73 Japanese yen from Wednesday’s 104.54 yen. The euro declined to $1.1843 from $1.1862.


Source link

Continue Reading
You may also like...
8 Comments

8 Comments

  1. F*ckin¦ amazing issues here. I am very satisfied to peer your post. Thank you so much and i am taking a look forward to contact you. Will you kindly drop me a e-mail?

  2. Nice read, I just passed this onto a colleague who was doing some research on that. And he just bought me lunch because I found it for him smile Therefore let me rephrase that: Thank you for lunch!

  3. of course like your web site however you have to take a look at the spelling on quite a few of your posts. Several of them are rife with spelling problems and I in finding it very bothersome to tell the reality nevertheless I?¦ll certainly come again again.

  4. My programmer is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using Movable-type on various websites for about a year and am nervous about switching to another platform. I have heard great things about blogengine.net. Is there a way I can transfer all my wordpress posts into it? Any kind of help would be really appreciated!

  5. Thanks for sharing excellent informations. Your site is so cool. I’m impressed by the details that you have on this web site. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for more articles. You, my pal, ROCK! I found simply the information I already searched everywhere and just could not come across. What a perfect site.

  6. An impressive share, I just given this onto a colleague who was doing a bit evaluation on this. And he in truth bought me breakfast as a result of I found it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading extra on this topic. If doable, as you turn into expertise, would you mind updating your weblog with more particulars? It is highly helpful for me. Big thumb up for this blog put up!

  7. Hello. fantastic job. I did not expect this. This is a fantastic story. Thanks!

  8. I simply want to tell you that I am just very new to weblog and seriously enjoyed you’re blog. Very likely I’m going to bookmark your blog . You certainly come with superb writings. Regards for revealing your webpage.

Leave a Reply

Your email address will not be published.

More in ECONOMIC NEWS

To Top
error: Content is protected !!