Asian shares plunge on stimulus-driven drag

22.10.2020 - Korneychuk Evgeniya
Asian shares plunge on stimulus-driven drag

Asian share markets and U.S. Treasury yields recorded weak sessions on Thursday. The series of declines followed after investors’ sentiment was dragged by a ruckus in U.S. stimulus talks and an upsurge of fresh COVID-19 infections across the world.

MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.63% loss. Australian shares plunged 0.6%, while South Korean shares dropped 0.59%. Meanwhile, China’s blue-chip index shed 1.1% as Japan’s benchmark index Nikkei recorded a 0.69% drop.

Overall market sentiment was seen subdued after U.S. President Donald Trump accused Democrats of their unwillingness to craft a compromise on stimulus. The issue pressed further, leaving investors without any idea if negotiations will still push through before the U.S. presidential and congressional elections on Nov. 3.

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