Categories: Markets

Positive climate in Asia

Positive climate in Asia

Most Asian stock markets are moving positively on Wednesday, with investors still nervous about the developments in relation to the latest strain of coronavirus, which may prove to be more resistant to the vaccines that are already in circulation.

The Japanese Nikkei 225 index rose 0.4% to 27,935.62 points.

In Hong Kong the Hang Seng index gained 1.1%, while in mainland China the Shanghai Composite recorded small gains of 0.35%.

South Korea’s Kospi jumped 2.1%, while in Australia the S & P / ASX 200 recorded small losses of 0.3%. Indicators in Singapore, Taiwan and Malaysia are also moving upwards.

The detection of the micron mutation in Japan has heightened concerns that new measures may be needed to reduce infections, affecting economic activity. However, experts say it will take a few weeks before more details become known about this mutation and how it interacts with existing vaccines and treatments.

The head of Moderna warned yesterday that the existing vaccines against COVID-19 may be less effective, which led to heavy losses in the Wall Street index.

The losses in the US market deepened after the statements of the President of the Federal Reserve Jerome Powell that the bank will consider the termination of the quantitative easing program launched earlier than expected in the outbreak of the pandemic to protect the economy from the crisis.

The end of the program will open the door for the Fed to raise interest rates from their all-time lows to curb decades-long inflation.

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