Asian stocks mostly up but tempered by virus, election fears
Hong Kong, Sept 28 (AFP/APP):Asian stocks rose, tracking a healthy lead from Wall Street as bargain-buyers moved in following a recent sell-off, though advances were limited by worries about fresh virus spikes and the re-imposition of economically damaging containment measures. Traders are also awaiting the first US presidential debate this week, which could prove crucial in determining November’s election, with many worried that a close vote might mean the result is delayed or even challenged by the loser. Tech firms led strong gains in New York as a new surge in infections forces governments — particularly in Europe — to put new stay-at-home orders in place, leading investors to bet people will use their computers more. And as the death toll from the disease topped one million, the World Health Organization warned that figure could double without more global collective action. However, while many leaders are unveiling fresh fiscal measures to support their economies, US lawmakers remain at loggerheads over a second rescue package, with Democrats and Republicans miles apart on their proposals. “The doomy mood music’s soundboard remains tuned to growing concerns about rising Covid-19 case counts and whether policymakers have ammunition to react,” said AxiCorp’s Stephen Innes. “In … Continue reading Asian stocks mostly up but tempered by virus, election fears
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