ASIAN STOCKS MIXED AS U.S. STIMULUS HOPES CRASH
Asian markets were off to a mixed start on Thursday as hopes of U.S. fiscal stimulus before the presidential election faded and a record number of new coronavirus infections in parts of Europe propelled investors toward safe-havens such as gold, Suzanne Barlyn reported for Reuters on October 15, 2020.
In a mixed Asian open, Australian equities bucked Wall Street declines, opening slightly higher because of “good support” for material and mining stocks, said Michael McCarthy, CMC Markets chief market strategist.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1%. Australia's S&P/ASX 200 rose 0.6%, while Japan's Nikkei 225 fell 0.3%. Hong Kong's Hang Seng index futures were down 0.49%. E-mini futures for the S&P 500 were flat.
On Wall Street, the Dow Jones Industrial Average fell 0.58%, the S&P 500 lost 0.66% and the Nasdaq Composite dropped 0.8%. Bank of America fell 5.3% and Wells Fargo, both US banks, tumbled 6% after a disappointing quarterly results. Gold gained 1% on Wednesday, rebounding from a sharp decline in the previous session, boosted by a weaker US dollar and economic uncertainties.