Asian equities pulled backed on Wednesday as an impasse in U.S. economic stimulus negotiations pushed global stocks lower and sent investors into safe-haven assets like gold, which hovered near record highs.
Hong Kong's Hang Seng index futures were down 0.14per cent. Australian S&P/ASX 200 was flat while Japan's Nikkei 225 futures dipped 0.5per cent. Worsening coronavirus outbreaks in Florida and Texas added to the caution. Florida reported 191 deaths in a 24 hour period ending on Tuesday, marking a record one-day rise for the third-most populous U.S. state and prized destination for beach-goers and retirees.
Gold is up over US$125 per ounce in little more than a week as investors bet the Federal Reserve will reaffirm its super-accommodative policies at its two-day meeting ending on Wednesday, and perhaps signal a tolerance for higher inflation in the long run. Bullion pulled back from an all-time high reached earlier.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »