Shares decline on lockdown, banking concerns; dollar jumps
Tuesday marked Asian shares’ second day of decline as an impasse in U.S. stimulus and the possibility of lockdown reimplementation in Europe dampened investors’ sentiment. Meanwhile, the dollar gained.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5% weaker. Australia’s S&P/ASX 200 recorded a 0.7% decline after miners and energy stocks dragged the index. China’s blue-chip index dropped 0.1%, while Hong Kong’s Hang Seng index tallied a 0.5% loss.
After-hours trade triggered a sell-off on Wall Street, with futures of the S&P 500 recording a 0.2% decline in Asia. More so, Nasdaq futures shed 0.4%.
On Wall Street, U.S. stocks were seen subdued over the past three weeks as investors withdrew from tech shares. This came after technology-related shares made laudable gains that drove the S&P 500 and the Nasdaq to new peaks.