Asian shares decline on U.S. stimulus concern

12.08.2020 - Petr Mazaylo
Asian shares decline on U.S. stimulus concern

Asian share markets recorded a weak session on Wednesday. This was mainly from growing uncertainty over whether or not lawmakers from the United States would approve an additional fiscal stimulus to alleviate the virus-beaten economy.

Encouraging news about vaccine development prompted some investors to slash safe-haven assets such as gold and government bonds. In addition to this, they had resorted to stocks of companies heavily damaged by the coronavirus pandemic.

The mixed sentiment made Asian trade turbulent. This had resulted in a 0.76% drop recorded by the index of ex-Japan Asia-Pacific shares.  Meanwhile, Japan’s benchmark index Nikkei advanced 0.2%.

On Wall Street, the S&P 500 broke its seven-day win streak. The decline came after the index placed near its all-time high record seen in February.

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