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Oct. 21, 2020, 11:55 p.m. EDT

Asian markets slip on doubts about U.S. economic aid

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By Associated Press

BEIJING — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov. 3 presidential election.

Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated.

On Wall Street, the benchmark S&P 500 index lost 0.2% on Wednesday as U.S. political leaders wrangled over economic aid following the expiration of extra unemployment benefits that propped up consumer spending. Democrats are pressing President Donald Trump’s Republicans to expand a proposed package.

The speaker of the House of Representatives, Nancy Pelosi, said she made progress in talks with the White House. But a potential agreement might face opposition in the Senate, where Majority Leader Mitch McConnell told fellow Republicans he warned the White House not to seal a relief deal before the election.

“Fiscal stimulus deal optimism has faded,” said Mizuho Bank in a report.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.49% lost 1% and the Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.79% in Tokyo shed 0.7%. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -2.06% in Hong Kong retreated 0.3%.

The Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.60% in Seoul was 0.9% lower and Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.26% declined 0.4%. New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR +1.02% , Singapore /zigman2/quotes/210597985/delayed SG:STI -1.75% , Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -1.04% and Jakarta /zigman2/quotes/210597981/delayed ID:JAKIDX -2.96% also retreated.

Markets are swinging between optimism about possible development of a coronavirus vaccine and uncertainty about the U.S. economic outlook without an aid package.

On Wall Street, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24% declined to 3,435.56. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% lost 0.4%. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +0.92% gave up 0.3% to 11,484.69.

Industrial and health care stocks declined. Communications services gained. Social media stocks rose after the photo service Snap /zigman2/quotes/205087158/composite SNAP +1.03% reported bigger gains in revenue and users than expected.

In energy markets, benchmark U.S. crude lost 26 cents to $39.77 per barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract fell $1.67 cents to $40.03 a barrel Wednesday. Brent crude , the price standard for international oils, shed 23 cents to $41.50 per barrel in London. The contract declined $1.43 the previous session to $41.73 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1633% gained to 104.73 Japanese yen from Wednesday’s 104.54 yen.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,391.76
-16.55 -0.49%
Volume: 38.50B
Nov. 30, 2020 3:01p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
26,433.62
-211.09 -0.79%
Volume: 0.00
Nov. 30, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,341.49
-553.19 -2.06%
Volume: 5.74M
Nov. 30, 2020 4:08p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,591.34
-42.11 -1.60%
Volume: 1.31M
Nov. 30, 2020 3:33p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,517.80
-83.30 -1.26%
Volume: 1.12M
Nov. 30, 2020 5:35p
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/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
12,768.52
+128.69 +1.02%
Volume: 0.00
Nov. 30, 2020 4:59p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,805.95
-49.87 -1.75%
Volume: 0.00
Nov. 30, 2020 5:20p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
13,722.89
-144.20 -1.04%
Volume: 0.00
Nov. 30, 2020 1:31p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,612.42
-170.92 -2.96%
Volume: 0.00
Nov. 30, 2020 3:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,638.35
+8.70 +0.24%
Volume: 1.22B
Nov. 27, 2020 2:07p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,910.37
+37.90 +0.13%
Volume: 178.10M
Nov. 27, 2020 2:07p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
12,205.85
+111.44 +0.92%
Volume: 3.22M
Nov. 27, 2020 4:14p
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/zigman2/quotes/205087158/composite
US : U.S.: NYSE
$ 46.03
+0.47 +1.03%
Volume: 7.69M
Nov. 27, 2020 5:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$68.58 billion
Rev. per Employee
$409,309
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
103.9150
-0.1700 -0.1633%
Volume: 0.0000
Nov. 30, 2020 6:25a
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