Investing.com – Asia-Pacific stocks rose almost Monday morning, but the worsening pandemic of COVID-19 and the outlook for US stimulus measures remain a challenge to a recovery in the global economy.
Hong Kong rose 1.43% by 9:24 pm (Greenwich Mean Time 2:24 am). With the completion of the COVID-19 inspection program, the city’s first blockade, which affected approximately 10,000 people living in Jordan and the Yau Ma Tei area, was lifted earlier that day.
China increased by 0.39% and decreased by 0.30%. The country continues to address the latest COVID-19 outbreak. The National Health Commission recorded 124 cases on January 24th. This is the worst wave of new infections seen since March 2020, up from 80 today.
Japan was up 0.45% and South Korea was up 1.54%. In Australia, it increased by 0.41%.
Despite the strong start of stocks this week, the global economy is expected until 2021 thanks to the number of new COVID-19 cases worldwide, with no signs of slowdown and delayed deployment of the COVID-19 vaccine. We are facing a tougher start. Questions are also beginning to arise as to whether US President Joe Biden will garner Republican support to pass his proposed $ 1.9 trillion stimulus to Congress.
According to data from Johns Hopkins University, the number of COVID-19 cases worldwide is rapidly approaching 100 million, with more than 2 million deaths as of January 25.
Vaccine deployment has been hampered by delays in entrustment Pfizer Italy’s Prime Minister Giuseppe Conte said in a Facebook (NASDAQ :) post that it was “unacceptable” for the respective vaccines Inc. (NYSE :) and AstraZeneca PLC (LON :). The news was even worse as British Health Minister Matt Hancock warned on Sunday that existing vaccines may be less effective against the new COVID-19 mutant.
“There was a bunch of negative COVID-19 news on Friday, and equity investors couldn’t ignore it in the end,” said Ray Atril, head of Forex strategy at the National Australia Bank (OTC :).
Xi Jinping Jintao of China, is scheduled to speak at “Davos Agenda 2021” online events of the World Economic Forum in the second half of the day. Topics discussed at the event include fair economic and social systems, digitization, and climate crisis.
On the central bank side, both the People’s Bank of China’s Yi Gang Governor and the European Central Bank’s Chief Economist, Philip Lane, will speak at a meeting later that day. The Federal Reserve Board also made a policy decision on Wednesday, hoping that Federal Reserve Chairman Jerome Powell will reassure investors that $ 120 billion worth of bond purchases per month will not be reduced immediately. I will announce it.
The United States will release a large amount of data during the week, starting with the index and index on Tuesday and ending with the data release on Thursday.
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Asian equities are on the rise, but Investing.com’s COVID-19 cases of investor sentiment continue to grow
https://www.investing.com/news/stock-market-news/asian-stocks-up-but-everincreasing-covid19-cases-on-investors-minds-2397322 Asian equities are on the rise, but Investing.com’s COVID-19 cases of investor sentiment continue to grow