· Asia shares mixed amid jitters over US stimulus, China trade
Asian stock markets were mixed Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing.
Meanwhile in Australia, the S&P/ASX 200 closed 0.6% lower at 6,001.30.
Overall, the MSCI Asia ex-Japan index gained 0.6%.
· Japan stocks fall from one-week high on dour earnings, firmer yen
Japanese shares retreated from a one-week high on Wednesday as downbeat earnings reports underscored the economic blow from the COVID-19 pandemic and a firmer yen weighed on exporters.
The Nikkei index ended down 0.26% at 22,514.85, with the telecommunications and the consumer discretionary sectors leading the declines.
The broader Topix fell 0.04% to 1,554.71.
The Nikkei has rallied 37% from this year’s low hit in March but has recently struggled to break above resistance around 23,000 as investors turn more cautious in the face of rising coronavirus cases at home and elsewhere.
· China shares extend gains as investors hold out for recovery
China stocks on Wednesday ended higher for the fourth straight session, as investors clung to hopes of a post-pandemic recovery in the world's second-largest economy while the heavyweight services sector continued to expand.
The Shanghai Composite index closed up 0.2% at 3,377.56. ** The blue-chip CSI300 index edged up 0.03%, the consumer staples sub-index gained 0.6% and consumer discretionary shares added 0.3%.
Central bank adviser Ma Jun told local media there is no need to step up counter-cyclical adjustments in monetary policy as an economic recovery is well under way, forecasting 2% growth for 2020.
· European stocks open higher after major earnings amid uncertainty over U.S. relief bill
European stocks opened higher Wednesday as investors digest another round of major corporate earnings reports, while uncertainty abounds over progress on a new U.S. coronavirus relief bill.
The pan-European Stoxx 600 climbed 0.5% at the start of trading, with retail stocks adding 1.2% to lead gains as all sectors and major bourses started the day in positive territory.
Corporate earnings continue to be a major focus for European investors, with Commerzbank, BMW, Deutsche Post and Allianz among those reporting before the bell on Wednesday.
European markets look set for a mixed handover from Asia Pacific, where South Korea’s Kospi jumped more than 1.1% by afternoon trade to lead gains amid a flat session.
Investors also have an eye on negotiations in Washington over a new U.S. coronavirus aid package, where White House negotiators on Tuesday vowed to work “around the clock” with Democratic counterparts to get a deal over the line by the end of the week.
Reference: CNBC, Reuters
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