Asian markets settle mostly lower on Thursday

29 Oct 2020 Evaluate

Asian markets settled mostly lower on Thursday, tracking overnight sell-off on Wall Street due to a surge in COVID-19 cases in Europe and the United States. Market sentiments weakened further after reports that Europe's biggest economies, France and Germany both will go back into imposing nationwide restrictions as the countries fight to control the rapid spread of corona virus cases in yet another wave. Moreover, lingering uncertainty about US fiscal stimulus and ahead of US presidential election also kept investors on edge. Japanese shares ended lower after central bank kept its ultra-loose monetary policy unchanged while downgrading its outlook for the economy due to Covid-19 outbreaks. Though, Chinese shares ended slightly higher after leading companies posted robust third-quarter earnings, while the Chinese Communist Party’s leadership will meet this week to formalize its plans for the next five years (2021-2025). Markets in Malaysia and Indonesia were closed in observance of the birth of the Prophet Muhammad.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,272.73	3.49	0.11
Hang Seng	24,586.60	-122.20	-0.49
Jakarta Composite	--	--	--
KLSE Composite	--	--	--
Nikkei 225	23,331.94	-86.57	-0.37
Straits Times	2,450.68	-32.80	-1.32
KOSPI Composite	2,326.67	-18.59	-0.79
Taiwan Weighted	12,662.91	-130.84	-1.02

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