Asia trades mixed amid COVID-19 worries
Major stock markets in the Asia-Pacific region continued trading in the mixed territory on Thursday as investors have abandoned tech stocks in favor of cyclicals that would benefit from an economic recovery. That came after the announcement by Pfizer and BioNTech about their coronavirus vaccine being more than 90% effective in preventing COVID-19. On the data front, Japan’s producer price index, which measures the cost of goods at the factory gate, declined by 2.1% year-on-year in October.
In mainland China, the Shanghai Composite Index traded 0.21% lower at 7:30 am CET, while at the same time, the Shenzhen Composite inclined by 0.21%. Meanwhile, Hong Kong’s Hang Seng decreased by 0.51% at 7:31 am CET. Japan’s Nikkei 225 advanced by 0.68% at 7:32 am CET. In South Korea, the Kospi Composite went down by 0.41% at 7:32 am CET. Lastly, Australia’s S&P/ASX 200 closed falling by 0.49%.
The dollar traded 0.20% lower compared to the yen and sold for 105.1200 at 7:26 am CET.
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