• Asia-Pacific stocks mixed as coronavirus cases in the West surge; oil prices drop

    26 Oct 2020 | SET News

Asia-Pacific stocks mixed as coronavirus cases in the West surge; oil prices drop

Asia-Pacific stocks were mixed in Monday morning trade as new coronavirus cases surge in the U.S. as well in countries across Europe.

In Japan, the Nikkei 225 rose 0.11% while the Topix index slipped 0.12%.

Over in South Korea, the Kospi sat below the flatline. Shares of firms affiliated to conglomerate Samsung Group traded mixed following the passing of Samsung Electronics Chairman, Lee Kun-hee. Samsung C&T surged more than 16% while Samsung Life Insurance soared 8.4%. Samsung Electronics edged 0.66% higher. Samsung SDI and Samsung Heavy Industries slipped 1.06% and 0.38%, respectively.

Shares in Australia saw gains, with the S&P/ASX 200 up 0.33%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.14% higher.

The Hong Kong market is closed on Monday for a holiday. (Double Ninth Festival)

Investor focus on Monday will also likely be on the deteriorating coronavirus situation in the West, with the U.S. recently reporting a record-breaking number of new virus cases.

Over in Europe, cases have also surged, with Reuters reporting that France registered record daily coronavirus infections while Italy ordered bars to close early and shut public gyms in a bid to stem a resurgence in the virus.


Reference: CNBC

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