Japan – Korea Securities

Japan – Korea stocks “got red” because Covid-19 in the US was at a record high

The opposite color gamut was re-exported on the Asia-Pacific stock market on November 13 as the number of new Covid-19 infections in the United States continued to break a record.

China’s Shanghai Composite Index fell 0.86% on November 13 trading day. Photo: AFP

Mainland Chinese stocks closed in the red today. The Shanghai Composite Index slid 0.86% to 3,310.10 points, while the Shenzhen Component Index slid 0.272% to 13,754.55 points.

Hong Kong’s Hang Seng Index lost 0.43% by the end of the trading day. By contrast, shares of tech giant Tencent listed in Hong Kong still rose to 3.29% after the group announced its profit in the third quarter of 2020 soared 80% year-on-year.

In Japan, the Nikkei 225 fell 0.53% to close at 25,385.87, while the Topix index slipped 1.33% and ended the day with 1,703.22 points. On the Korean market, the Kospi index slipped 0.74% to 2,493.87 points. In contrast, the Taiwan Taiex Index recorded an increase of 0.39% to 13,273.33 points.

Australian stocks today were red with the S & P / ASX 200 down 0.2% to 6,405.20. The MSCI Asia-Pacific Index (excluding Japan) cut its momentum in the morning and ended the day with a slight increase of 0.18%.

Investors today continue to keep an eye on the Covid-19 epidemic in America tends to be more complicated. Tfigures from Johns Hopkins University, The United States recorded more than 143,000 new Covid-19 infections on November 11. This is the highest number of Covid-19 infections per day since the outbreak in the US, bringing the average total number of Covid-19 infections in the past 7 days in the US to 127,474, an increase of 35% from the previous week.

The Covid-19 epidemic continued to spread in the US with positive results recently The trial of Covid-19-resistant vaccine has become fuzzy. A few days ago, the pharmaceutical company Pfizer and BioNTech Biotechnology Company announced that the vaccine they developed was more than 90% effective against Covid-19. This is the anti-virus rate much higher than the 75% forecast by scientists. Meanwhile, Anthony Fauci, the White House’s Covid-19 anti-epidemic advisor, said the vaccine only needs to be 50% or 60% effective against Covid-19 for it to be approved.

Fed Chairman Jerome Powell on November 12 warned, “the next few months could be challenging” for the US, despite recent progress on the Covid-19 resistance vaccine front.

“In our opinion, it is too early to reliably assess the impact of news (on the results of vaccine trials) on the path of economic recovery, especially in the coming time”, Mr. Powell noted.

Wall Street stocks last night suffered a fiery red session after a cautious Fed warning. The Dow Jones industrial average lost 317.46 points to close at 29,080.17, while the S&P 500 index slipped 1% to 3,537.01 and the Nasdaq Composite fell 0.7% to 11,709.59.

The US dollar index against other major currencies rose to 92,937, from 92.8 set during the week. The Japanese yen weakened today against the greenback and converted 105.06 JPY / USD, compared to the 104.3 JPY / USD normally seen during the week, while the Australian dollar inched slightly and traded 1 AUD / USD. $ 0.724 vs. $ 1 / $ 0.726.

Oil prices on the Asian market this afternoon fell with Brent crude for futures slipping 1.42% to $ 42.91 / barrel while US crude futures fell 1.82% to $ 40.37. /bin.