BANGKOK – Shares jumped in Asia on Wednesday after Wall Street closed lower for a second consecutive day, led by declines in technology companies and banks.
Weakening coronavirus outbreaks in Asia have cast a shadow over the prospect of a rebound of the pandemic. Tokyo’s Nikkei 225 fell by more than 2% and other benchmarks fell as well.
On Tuesday, the S&P 500 returned 0.7% and pulled the index further below the record high it set on Friday. Small business stocks, which have beaten the rest of the market over the past few months, have fallen more than other sectors.
Asian governments are trying to secure COVID-19 vaccines after infection numbers rose in recent weeks. The increasing case loads are straining medical systems from Japan to India, leading to the restoration of pandemic precautions such as travel restrictions, quarantine requirements and the eclipse of nightlife.
The Nikkei 225 NIK,
in Tokyo up 2.2% while Hang Seng HSI in Hong Kong,
it decreased by 1.8%. In Seoul, the Kospi 180721,
lost 1.5%, while S & P / ASX 200 XJO in Sydney,
fell 1.2% despite strong retail sales. The Shanghai SHCOMP Composite Index,
slightly higher colored. Stocks fell in Singapore STI,
Taiwan Y9999,
and Indonesia JAKIDX,
“Global equities are still lowering lows after renewed virus-ridden markets overnight,” Stephen Innes of Axi said in a comment.
Weakening outbreaks in India and Thailand have also cast doubt on the recovery of the trip, which in turn is blurring the outlook for oil and fuel prices, he said.
On Wednesday, the S&P 500 SPX,
closed at 4,134.94. The Dow Jones Industrial Average DJIA,
lost 0.8% to 33,821.30. After an early profit, the technology-heavy Nasdaq COMP,
slipped 0.9%, to 13,786.27.
Apple AAPL,
fell 1.3% as part of a broad slide in technology companies. Banks were also responsible for a large portion of sales, which came when bond yields fell, and this reversed after rising higher on Monday.
Yields on the ten-year treasury fell from 1.60% to 1.56%.
In other trade, benchmark for US crude oil CLK21,
lost 51 cents to $ 62.16 a barrel in electronic trading on the New York Mercantile Exchange. It dropped 76 cents to $ 62.67 a barrel on Tuesday. Brent ru BRNM21,
the international standard, decreased 46 cents to $ 66.11 per barrel.
The US dollar USDJPY,
it declined to 107.95 Japanese yen from 108.09 yen late Tuesday.