Investors hesitated, Sino-Japanese stocks struggled to rise

Investors hesitated, Sino-Japanese stocks struggled to rise

The reluctance of investors made the red color on Asia-Pacific stock market spread in this morning session on December 10.

The Shanghai Composite and the Shenzhen Composite were flat, while the Shenzhen Component slipped 0.15% in this morning’s 12/12 session. Photo: AFP

Japan’s Nikkei 225 index fell 0.39% as soon as it opened, while the Topix index slipped 0.18%. On the Korean market, the decline of the Kospi index has weakened, from a decrease of more than 1% to a slight slide of 0.15% to 2,751.27 points.

The red also covered Australian stocks as stock groups all declined while the ASX 200 index fell 0.6%. The Energy Separate Index still fell 0.72% this morning as oil stocks struggled to gain points.

Hong Kong Stocks were also in red this morning with the Hang Seng Index down 0.49%. Mainland Chinese stock markets also struggled to find a bullish gate as the Shanghai Composite and Shenzhen Composite Index went flat, while the Shenzhen Component slipped 0.15%.

Asia-Pacific stocks have difficulty making profits after Wall Street stocks last night turned red. According to Rahul Khare, a researcher at ANZ Group, the level of risk related to the trade negotiations between the UK and the EU increases with the long negotiation of the new US economic stimulus package that continues to affect the mind. investor management.

The 3-hour meeting between the two leaders of the UK and the EU on the evening of December 9 did not clear the deadlock in post-Brexit trade negotiations.

Media citing sources from Downing Street said British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen last night agreed that the “fate” of post-Brexit trade negotiations will be decided on December 12. .

The UK officially left the EU in January 2020 but agreed to maintain the implementation of EU standards and regulations until the end of this year under a transition process. This is the time for both sides to exchange and negotiate on new commercial regulations. However, the three-week transition period will end, raising concerns that a new deal between the UK and the EU is unlikely to be reached then.

British pound trading on Asian time this morning slipped 0.22% down to 1 GBP for 1.3366 USD, while the Euro remained at 1 EUR “eat” 1.2081 USD.

Another issue that dominates the decision of Asian investors is that the US has not yet finalized the new stimulus package and the negotiation of this stimulus package continues while the Covid-19 epidemic in this country is getting worse. .

However, investor sentiment somewhat improved after the UK has officially distributed doses of anti-Covid-19 vaccine produced by Pfizer to the people.

In the money market, the greenback was stable as the US dollar index against other major currencies inched slightly to 91,081.

“The US dollar strengthened last night due to concerns that the US economic stimulus package will not be approved anytime soon,” commented Kim Mundy, an economist and currency expert at Commonwealth Bank (Australia).

“The greenback may continue to increase in the short term if Democrats and Republicans cannot agree on the size and content of the new stimulus package this year,” Mundy said. However, the supply of the Covid-19-resistant vaccine from this month will improve the medium-term economic outlook and stop the US dollar’s rise in the short term, according to the expert.

This morning, the Japanese Yen slipped to 104.35 JPY / USD, compared to 104.18 set earlier. While the Australian dollar edged up 0.19% to 1 AUD for $ 0.7459.

Oil prices on the Asian market this morning went up. US crude oil futures prices inched up 0.55% to $ 45.77 / barrel, while Brent for futures prices rose 0.49% to $ 49.10 / barrel.

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