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Asia’s C-19 control tempers global stock selloff

Published : Friday, 30 October, 2020 at 12:00 AM  Count : 139

SINGAPORE, Oct 29: Asia's stock markets fell on Thursday, but without the panic selling seen in Europe and the United States, while US futures jumped as investors tried to get a grip on fears that fresh lockdowns could derail a recovery from the COVID-19 pandemic.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6per cent, with the heaviest drops in Australia, down 1.6per cent, and South Korea, down 1per cent.
Japan's Nikkei fell just 0.3per cent, Chinese blue chips rose 0.5per cent and the yuan led a gentle bounce in Asian currencies against the greenback.
That was a far cry from the biggest falls on Wall Street and in Europe in months on Wednesday, highlighting Asia's emergence from a pandemic that has the rest of the world still mired. Traders lifted S&P 500 futures 1per cent with the mood, and on hopes that spiking volatility might mean a swift rebound. European futures rose half a per cent and FTSE futures rose 0.3per cent.   -Reuters

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