Asia report: Markets mixed as Covid deaths top 1m
Markets in Asia finished in a mixed state on Tuesday, as investors digested the latest developments in the global coronavirus pandemic, with confirmation overnight that worldwide deaths had now topped one million.
In Japan, the Nikkei 225 was up 0.12% at 25,359.10, as the yen weakened 0.09% against the dollar to last trade at JPY 105.60.
Of the major components on the benchmark index, robotics specialist Fanuc was up 2.5%, Uniqlo owner Fast Retailing added 0.99%, and technology giant SoftBank Group was ahead 1.51%.
Nippon Telegraph and Telephone (NTT) was down 2.85% by the close, after the company said it would JPY 4.25trn to take its mobile division, NTT Docomo, private.
Shares of NTT Docomo advanced 15.78% by the end of trading.
The broader Topix index went the other way by the close in Tokyo, falling 0.23% to settle at 1,658.10.
On the mainland, the Shanghai Composite added 0.21% to 3,224.36, and the smaller, technology-centric Shenzhen Composite was 1.01% firmer at 2,148.46.
South Korea’s Kospi rose 0.86% to 2,327.89, while the Hang Seng Index in Hong Kong was 0.85% weaker at 23,275.53.
NYSE-listed, China-focussed logistics company ZTO Express rocketed more than 9% on its debut in Hong Kong, having launched at HKD 218 per share earlier in the session.
It was a mixed session for the blue-chip technology stocks in Seoul, with Samsung Electronics flat, while chipmaker SK Hynix rose 1.82%.
The Covid-19 pandemic was once again at the top of the agenda, after data from Johns Hopkins University overnight showed the number of deaths from the novel coronavirus had now passed the one million mark, 10 months after it emerged in the Chinese city of Wuhan.
According to the data, four countries represented around half of total global deaths, being the United States, Brazil, India and Mexico.
“All eyes are on the US presidential debate later today, where Trump and Biden are expected to clash over tax and environmental policies as well as how to protect jobs during the pandemic,” said AJ Bell investment director Russ Mould.
“Biden is currently leading the polls but his victory is widely considered to be negative for stock markets due to his desire to raise taxes.
“However, a Trump defeat could also bring relief to a lot of people which in turn could improve investor sentiment.”
Oil prices were weaker at the end of the Asian day, with Brent crude last down 0.66% at $42.15, and West Texas Intermediate 0.76% lower at $40.29.
In Australia, the S&P/ASX 200 was broadly flat, losing just 0.2 points to close at 5,952.10, while across the Tasman Sea, New Zealand’s S&P/NZX 50 was down 0.51% at 11,742.09.
Both of the down under dollars were stronger on the greenback, with the Aussie last 0.62% stronger at AUD 1.4055, and the Kiwi advancing 0.47% at NZD 1.5189.