HONG KONG – Asian markets mostly rose today but investors were shifting cautiously as they weighed hopes for a Covid-19 vaccine against surging infections around the world that threaten an already stuttering economic recovery.
While the mood on trading floors remains broadly optimistic about the long-term outlook, analysts said the coronavirus will continue to cause worry.
Hong Kong, Shanghai, Singapore, Sydney, Seoul, Taipei, Jakarta and Manila all rose.
But after a healthy rally over the past 10 trading days, investors are taking a step back, with Wall Street's three main indexes all edging lower yesterday.
Tokyo, Wellington, Mumbai and Bangkok also fell in trading today.
Traders are also growing worried that US lawmakers are not doing enough to agree on a new, much-needed stimulus for the world's top economy as it shows signs of slowing in the face of the new wave of infections.
Months of talks ahead of the November 3 election failed to reach a breakthrough, and Republicans who are likely to keep power in the Senate show no signs of backing down to Democrat demands for a multitrillion-dollar package. – AFP, November 18, 2020
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