Asian shares decline following lackluster day on Wall Street
4 years ago

Asian shares decline following lackluster day on Wall Street

Associated Press  

Asian shares sank on Tuesday after a lackluster day on Wall Street as investors wait to see if Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic. Japan’s benchmark Nikkei 225 index fell after Prime Minister Yoshihide Suga announced a suspension of a travel promotion program that has helped businesses but also is thought to have helped spark a resurgence of coronavirus outbreaks. Also Tuesday, China’s government announced a raft of monthly statistics showing retail sales, industrial output and investments in factory equipment and other fixed assets rose as expected in November. “Unless policymakers overdeliver on market expectations, especially at this time of year when our risk-taking proclivities give way to profit-taking, it seems virus-related economic restrictions will never cease to weigh as the market to straddle that fence between hope and reality.” Even without another round of stimulus, investors are facing a robust environment heading into next year that includes low inflation and ultra-low interest rates. The EU’s chief negotiator Michel Barnier said Monday he believes a trade agreement is possible following nine months of negotiations, now that remaining disputes have been whittled down to just two.

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