Europe’s Covid-19 curbs put a dampener on Asian stocks as oil and euro slip

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Australian shares fell, while Japan’s Nikkei was down and MSCI’s broadest index of Asia-Pacific shares was flat

A man wearing a protective face mask talks on his cellphone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan. Picture: REUTERS/ATHIT PERAWONGMETHA

Australian shares fell 0.4%, led by bank stock losses. Japan’s Nikkei was down 0.3% and MSCI’s broadest index of Asia-Pacific shares was flat. The euro slipped 0.2% to $1.1280, close to a 16-month low. The common currency has been the prime mover in markets over recent sessions as investors wager on Europe’s economy lagging well behind the US recovery.

Austria began its fourth lockdown on Monday — with neighbouring Germany warning it may follow suit — as protests against restrictions occurred across the continent. Meanwhile the US economy has been surprising analysts with stronger-than-expected retail sales data and hot inflation in recent weeks. The focus this week is on prices and the labour market and on what the Fed might do about their strength.

 

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