Asian stock markets fall as traders look at virus cases in Europe

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Asian The stock markets fell on Friday when traders saw an upturn coronavirus cases in Europe and anti-disease controls that threaten to disrupt trade and travel.

Shanghai, Tokyo, Hong Kong and Sydney decreased. USA markets were closed on Thursday due to a public holiday.

Austria imposed a nationwide 10-day lock-up after tripling its daily virus deaths, while Italy imposed restrictions on the activity of unvaccinated people. The US government advised Americans to avoid Germany and Denmark. Morocco shut down flights from France after its daily new cases increased by more than 30,000.

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A forex trader walks past the screens showing the Korea Composite Stock Price Index (KOSPI) in a currency trading room in Seoul, South Korea, on Friday, November 26, 2021. (AP Photo / Lee Jin-man)

“Traders will closely monitor the situation with the new covid wave across Europe,” said Anderson Alves of ActivTrades in a report. Alves said curbs imposed by China restricting the supply of crews “prolongs a crisis” in global trade.

The Shanghai Composite Index lost 0.4% to 3,569.86 and the Nikkei 225 in Tokyo fell by an unusually wide margin of 2.5% to 28,779.03. Hang Seng in Hong Kong fell 1.9% to 24,260.94.

Kospi in Seoul lost 1% to 2,949.71 and Sydney’s S & P-ASX 200 fell to 7,301.90. New Zealand and Southeast Asian markets also declined.

The Wall Street benchmark S&P 500 closed up 0.2% on Wednesday. The US markets will reopen on Friday for a shortened trading session.

Investors are more cautious after Federal Reserve officials said in notes from their October meeting released this week that they foresaw the possibility of responding to higher inflation by raising interest rates faster than previously planned.

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Financial markets had been encouraged by strong US corporate profits and signs that the global economy was recovering from last year’s historic decline in activity due to the pandemic. Share prices have been lifted by simple credit and other measures rolled out by the Fed and other central banks.

Investors worry that central banks may feel pressure to withdraw stimuli earlier than planned due to stronger-than-expected inflation. The Fed said earlier that they predicted to keep interest rates low until the end of next year.

In the energy markets, benchmark US crude fell $ 1.68 to $ 76.71 per barrel in electronic trading on the New York Mercantile Exchange. Brent Crude Oil, the international oil price base, lost $ 1.29 to $ 79.63 a barrel in London.

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The dollar fell to 114.62 yen from Thursday’s 115.36 yen. The euro rose to $ 1.1224 from $ 1.1221.

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