Markets mixed as early rally loses momentum

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Hong Kong

Asian markets were mixed Wednesday as an early rally fizzled out on profit-taking and lingering worries about the impact of a spike in coronavirus infections around the world.
Regional investors rushed out of the blocks in the morning following a blockbuster performance on Wall Street, as vaccine successes and easing US political uncertainty boosted investor confidence in the economic recovery.
Signs that infection rates in Europe are slowing enough to allow some countries to ease lockdown measures added to the sense of hope across trading floors. However, excitement was tempered by a still-high number of new cases and deaths, as well as a pick-up in several Asian nations that are causing governments to reimpose containment measures.—APP