MSCI’s broadest gauge of world stocks, ACWI, was up slightly and European stocks are expected to open flat with both Euro Stoxx futures and Britain’s FTSE futures little changed.
China’s healthcare share index dropped more than 4% after U.S. President Joe Biden threw his support behind waiving intellectual property rights for COVID-19 vaccines.
Biden’s move hit U.S. vaccine makers, too, including Moderna, but Wall Street was supported overall by gains in energy and other cyclical shares.
Japanese shares end higher on cyclicals boost, tech weakness caps gains
Japanese shares gained on Thursday to mark their biggest percentage gain in two weeks, as investors scooped up cyclical shares following Wall Street gains, although the gains were capped by technology shares that tracked the Nasdaq lower.
The Nikkei share average advanced 1.8% to close at 29,331.37, while the broader Topix gained 1.54% to 1,927.40. The market reopened on Thursday after three days of public holidays.
China stocks fall on healthcare loss, Sino-West tensions; Hong Kong up
China stocks fell on Thursday as healthcare firms declined following investors’ return after the Labour Day break, and as Sino-West tensions weighed.
The CSI300 index fell 1.3% to 5,057.17 points at the end of the morning session, while the Shanghai Composite Index lost 0.2% to 3,439.12 points.
The CSI300 index fell 1.3% to 5,057.17 points at the end of the morning session, while the Shanghai Composite Index lost 0.2% to 3,439.12 points.
Indian shares pare gains as coronavirus cases surge past 21 million
Indian shares trimmed early gains on Thursday as a record surge in domestic coronavirus infections fuelled worries that the second wave of the pandemic could derail a nascent recovery seen in Asia’s third-largest economy.
The NSE Nifty 50 index was up 0.06% at 14,626.85 by 0503 GMT, while the S&P BSE Sensex dipped 0.06% to 48,649.57, after an early uptick led by metal stocks on strong steel prices and solid results from Tata Steel.
European markets mostly higher with earnings, Bank of England, elections in focus
The pan-European Stoxx 600 gained 0.1% in early trade, with banks adding 0.6% while tech and travel stocks fell 0.6%.
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