Stocks

Asian stocks dip as investors curb vaccine enthusiasm

Reuters NEW YORK | Updated on December 15, 2020

Meanwhile, new waves of the pandemic forced Germany, the Netherlands and London back to stricter lockdowns while cases in Japan and South Korea also surged.

Asian stocks came under pressure on Tuesday following a mixed Wall Street session, as concerns about increasing COVID-19 deaths, infections and lockdowns overshadowed optimism about the start of coronavirus vaccinations.

Australian S&P/ASX 200 lost 0.12% in early trading while Japan's Nikkei 225 futures fell 0.13%. E-mini futures for the S&P 500 rose 0.21%.

The lackluster start to the Asian day comes after the S&P 500 closed down 0.4%, the Nasdaq Composite gained 0.5% and the Dow Jones Industrial Average hit a record high but fell back 0.6% for the day.

The first U.S. vaccination was given to an intensive care nurse on Monday, the same day the country passed the grim milestone of 300,000 lives lost.

 

Covid-19 deaths in the U.S. are occurring at a record rate 2,462 per day on a seven-day average, according to a Reuters count.

Meanwhile, new waves of the pandemic forced Germany, the Netherlands and London back to stricter lockdowns while cases in Japan and South Korea also surged.

Some traders said markets have already factored in optimism about vaccines.

“We've been trading off the same vaccine headlines for three or four months,” said Dennis Dick, a trader at Bright Trading LLC. “This market is 100% relying on this vaccine.”

Still, negotiators in the U.S. Congress appeared to be finally near an agreement on Monday on a massive government spending deal with a fresh round of aid to help the economy.

Published on December 15, 2020

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