Asian stocks slip as virus worries counter vaccine hope

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Nigeria News News

Most markets retreat as nations grapple with surging infection numbers

A trader passes in front of the New York Stock Exchange in New York, the US, on December 9 2020. Picture: BLOOMBERG/MICHAEL NAGLEAsian stocks drifted lower on Tuesday as worries about increasing Covid-19 deaths and lockdowns overshadowed optimism about the rollout of coronavirus vaccinations.

“Considerable uncertainty surrounds the timeline for rollout, but safety milestones could be met by about mid-2021,” economists at Westpac said in a note. “Meanwhile several jurisdictions continue to struggle with outbreaks with a particularly notable rise in cases in the US,” they said. On Monday, tighter Covid-19 restrictions were imposed on London as the government citing increased infection rates that may be partly linked to a new variant of the coronavirus.

“We now know we are building a bridge to somewhere, providing clarity for policymakers, households and companies about getting to a post-Covid stage,” strategists at BlackRock Investment Institute said in a report. “Yet disappointing jobs data in recent weeks pointed to near-term risks as the virus surges around the US, potentially slowing the restart,” they said.

The dollar traded near two-and-a-half-year lows against peers as demand for the safest assets flagged.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines