Passersby walk past an electronic board showing Japan's Nikkei share average and Asian countries' stock indexes outside a brokerage in Tokyo December 19, 2014. — Reuters pic
Oil prices fell on festering fears over demand-destroying coronavirus, and before this week’s expanded OPEC+ technical gathering of key crude producers which are expected to curb production cuts.Equity traders are now looking to the corporate earnings season, which will reveal how companies fared during the second quarter—when economy-sapping lockdowns were imposed around the world.
“JP Morgan, Citigroup and Wells Fargo are first to set the scene, with Goldman Sachs, Netflix and Johnson & Johnson helping to give further insights as to the coronavirus impact later in the week.”Investors also welcomed comments on Friday from the head of German biotech firm BioNTech who said a vaccine candidate would be ready for regulatory review by the end of the year, while Gilead Sciences said its drug remdesivir had been relatively effective in clinical trials.
In Asia, Tokyo led the gains, adding more than two per cent, while Shanghai, Seoul and Taipei were all more than one per cent higher.
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