Asian shares turbulent on dwindling stimulus hopes

Asian shares recorded a turbulent performance earlier on Tuesday. This could be attributed to the markets’ low confidence as investors’ stimulus- and vaccine-driven sentiment was heavily dragged by a surge in new coronavirus infections.  

Asia tracked Wall Street’s mixed session, with the tech-heavy Nasdaq reaching a new peak. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.13% drop as Australia’s S&P ASX 200 hiked 0.09%.

Japan’s benchmark index Nikkei plunged 0.63%, while Hong Kong’s Hang Seng index futures advanced 0.31%. On Wall Street, Nasdaq monitored a 0.45% increase. However, the Dow and the S&P 500 both dropped, with the former dropping 0.49% and the latter hitting a 0.19% decline.

Investors are waiting if policymakers in the United States will draft another stimulus package, with the business community warning that an impasse will likely drag the global economy deeper.