Asian Markets Today: Rise In Global Coronavirus Cases Weighs On Shares

Asian Markets Today: Rise In Global Coronavirus Cases Weighs On Shares

Major U.S. indices were mixed on Friday. The Dow and the S&P 500 futures have started the week on a negative note, going down 0.55% and 0.56% early Monday, as the global rise in coronavirus cases dampens investor sentiment.

The effects of rising cases in the U.S. and Europe could be seen in Asia, with most markets trading lower on Monday.

Japan's Nikkei 225 benchmark is trading 0.15% lower at press time, dragged down by a decline in banks, airlines, and technology stocks, partially offset by gains in realty and some metal stocks. The corporate services price index showed a growth of 1.3% year-over-year on Sunday, beating the consensus of 1%. Investors will be watching the Industries activity index and leading indicators data scheduled to release Monday.

China's Shanghai Composite benchmark is trading 0.72% lower in afternoon trade, continuing its decline for the fourth session straight. Financials, consumer, and energy names are trading lower, partially offset by a respite in technology, healthcare, and services stocks. September's industrial profit data is due to release late Monday.

Hong Kong's Hang Seng Index is closed for Chung Yeung Day.

Australia's S&P/ASX 200 is trading marginally lower by 0.06% towards the end of Monday's session, indicating a session decline for the third consecutive day. Materials, technology, and industrial stocks are trading lower, more than offsetting the gains in energy, healthcare, and telecom stocks. There are no major economic events scheduled for Monday.

India's Nifty 50 index is trading 0.21% lower in Monday's early trade. Major sectors, except for Pharma and PSU Banks, are trading lower. There are no major economic events scheduled for Monday.

South Korea's KOSPI is trading 0.44% lower at publication time in Monday's afternoon trade. All sectors are dragging the index lower, partially offset by a gain in consumer stocks. Investors will be watching South Korea's third-quarter GDP data due Monday, which is expected to show a 1.9% YoY contraction.

Forex Trading: U.S. Dollar Index futures are trading 0.17% higher to 92.922 early Monday. The dollar has strengthened 0.21% against the Japanese Yen to 104.92 and a marginal 0.03% against the Chinese Yuan to 6.6864.

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