Asian markets mixed as traders weigh Covid 2nd wave


Hong Kong

Markets were mixed Thursday as investors took a breather after a broad two-day rally, while they weighed concerns about a new wave of virus infections against massive monetary easing and stimulus measures.
The financial support, along with the easing of lockdown restrictions, opening-up of economies and positive data have provided support to equities across the planet in recent months.
But there is growing sense that traders may have got ahead of themselves and observers warn markets could be in line for a pull-back unless there is a major event to move higher, such as the development of a vaccine. After starting the day on the back foot, regional equities clawed back losses and some managed to shift into positive territory.
Tokyo ended down 0.5 percent and Hong Kong dipped 0.3 percent, while Sydney slipped 0.9 percent after data showed a massive jump in Australian job losses.Wellington was also down one percent after news the New Zealand economy suffered its worst contraction for almost three decades in the first quarter..—AFP