Asian markets struggle to digest coronavirus spike

first_imgAsian shares are showing a mixed picture on Tuesday after a volatile day in US equity markets amid persistent concerns over the record number of new coronavirus cases worldwide and signs of an economic rebound.Australian S&P/ASX 200 futures lost 0.76 percent in early trading, Japan’s Nikkei 225 futures added 0.22 percent, and Hong Kong’s Hang Seng index futures rose 0.39 percent.E-mini futures for the S&P 500 rose 0.21 percent. The US dollar edged lower on Monday as investors looked to US corporate earnings and upcoming retail data to gauge whether guarded optimism on the economic outlook was justified. Spot gold dropped 0.1 percent to US$1,801.30 an ounce.On Monday, the S&P 500 dropped 0.94 percent after touching its highest level since Feb. 24 earlier in the trading day. The tech-heavy Nasdaq Composite dropped 2.13 percent, driven by declines in some outperforming big names, including Amazon and Microsoft. The Dow Jones Industrial Average rose 0.04 percent.MSCI’s gauge of stocks across the globe briefly touched its highest level since February, before ending down 0.29 percent.Growing concerns over the coronavirus spread and simmering US-China tensions also weighed on oil. Brent futures fell 52 cents, or 1.2 percent, to settle at $42.72 a barrel.In upcoming data, China is set to report Tuesday its trade numbers, with slump in China’s exports likely easing in June while imports contracted less sharply on higher crude oil and commodities purchases, according to a Monday Reuters poll.Topics : After a strong start in the United States, equity markets sold off when California announced it was slowing the state’s reopening, shutting bars and banning indoor restaurant dining statewide in response to a surge in coronavirus cases.But at the same time, US consumers reported being more optimistic that the worst of their economic woes from the pandemic were behind them, complicating the picture for investors about the state of the world’s largest economy.“The US continues to report fresh highs of daily new infections. However, the seriousness of the disease is falling. Hospitalisation rates…has trended down since April,” said Kim Mundy with the Commonwealth Bank of Australia in Sydney, in an analyst note. “The upshot is the surge in infections does not give the full story.  And it suggests the US is learning to live with the disease.”Tensions also grew between the US and China over disputed claims to offshore resources throughout the South China Sea, with US officials saying China’s claims were “unlawful.”last_img read more

Area Boys Basketball Scores (1-27)

first_imgArea Boys Basketball ScoresSaturday  (1-27)Batesville  61     Hauser  45East Central  61     North Decatur  51Talawanda  43     Franklin County  40Oldenburg  79     Indy Math & Science  51Switz. County  53     Milan  48Union County  58     Jac-Cen-Del  50Rising Sun  81     Waldron  49South Central  48     Shawe Memorial  34SW Hanover  57     Mitchell  46SW Shelby  56     Indy Herron  49Morristown  62     Knightstown  45North Harrison  54     Madison  47last_img