Tokyo, January 5 (Reuters) – Asian stocks fell on Tuesday amid uncertainty over Georgia’s Senate outflows, which could have a major impact on future US President Joe Biden’s policies.
MSCI’s broadest index for stocks in the Asia-Pacific region outside of Japan
.MIAPJ0000PUS
fell 0.34%, pulling back from a record high in the previous session. Australian stocks
.AXJO
fell 0.44%. Chinese stocks
.CSI300
erased early losses, rising 0.26%.
Japanese stocks
.N225
lost 0.25% after a media report that the government will cut business hours in Tokyo and surrounding cities from Thursday.
Oil futures rose slightly in cautious trading as investors waited for a meeting later Tuesday , which the major crude oil producers will estimate production levels for February.
In the United States, control of the Senate is at stake in Georgia’s double elections on Tuesday. A Democratic win in both races could divert control of the Senate from the Republicans, but both competitions are very close and the results may not be known immediately, which could lead to the chaotic voices following last year’s US presidential election repeat.
« 2021 starts with a bang of crucial political and economic news that the markets can digest. The undisputed climax will be the result of the Georgia Senate runoff election, » wrote James Knightley, ING’s international chief economist, in a research protocol.
« If the Democrats win both seats, it should result in the biggest fiscal stimulus for 2021. Still, this could be the excuse for a short-term consolidation in risk markets after a strong post-election rally. »
The uncertainty about the Georgia vote and worries about increasing coronavirus in fections caused Wall Street to plummet on Monday.
The Dow Jones industrial average
.DJI
fell 1.27%, the S&P 500
.SPX
lost 1.49% during Tech Heavy
Nasdaq
.IXIC
down 1.48%.
Outgoing Republican President Donald Trump’s call to pressure Georgia’s top election officials to « find » votes to reverse his loss to elected President Biden in the state also unsettled some investors . House and Senate are due to confirm Biden’s election victory Wednesday, but some Republicans have pledged to vote against it and thousands of Trump supporters are expected to gather in the capital to protest. MSCI’s broadest metric for global stocks
.MIWD00000PUS
In Asia, it fell 0.06% on Tuesday and also pulled back from a record set in the previous session.
Increased risk aversion helped
Dollar index
= USD rebounded from a 2 1/2 year versus a basket of major currencies, but moves were subdued at the start of the year.
British Pound GBP = D3 bought $ 1.3570. Sterling has seen a 0.7% decline since Monday when Prime Minister Boris Johnson ordered a lockdown to try to slow down a rapidly spreading variant of coronavirus. Crude oil futures
CLc1
rose 0.23% to $ 47.73 a barrel while Brent Futures
LCOc1
up 0.12% to $ 5115 a barrel. The big oil producers will meet later on Tuesday to decide on production volumes for February after talks collapsed the previous day. was a little lower. Spot gold
XAU =
fell 0.21% to $ 1,938.25 an ounce. GOL /
We encourage you to use comments to connect with users, share your perspective, and ask questions to authors and each other. However, in order to maintain the high level of discourse that we all appreciate and expect, please note the following criteria:
Offenders of spam or abuse will be deleted from the website and, at Investing.com’s discretion, excluded from future registration.
Drop here or a picture
Upload from your computer
Supported formats: * .jpg, * .png, * .gif up to 5 MB
We encourage you to use comments to connect with users, share your perspective, and ask questions to authors and each other. However, in order to maintain the high level of discourse that we all appreciate and expect, please note the following criteria:
Offenders of spam or abuse will be deleted from the website and, at Investing.com’s discretion, excluded from future registration.
Drop here or a picture
Upload from your computer
Supported formats: * .jpg, * .png, * .gif up to 5 MB
Disclosure of Risks: Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible. Margin Forex trading carries a high level of risk and is not suitable for all investors. Trading or investing in cryptocurrencies carries potential risks. Cryptocurrency prices are extremely volatile and can be influenced by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade forex or other financial instruments or cryptocurrencies, you should carefully weigh your investment goals, experience and risk appetite. Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) as well as forex and cryptocurrency prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data. Fusion Media may be compensated by the advertisers who appear on the site based on your interaction with the advertisements or advertisers
Ref: https://in.investing.com
