Forex Marketz Daily Forex News – Fully Markets Update
The Asian and Pacific Rim was mostly on solid footing by the end of their morning trade session (Hong Kong Time) on Wednesday. Asian and other reginal market participants are closely watching a surge in Covid-19 cases in the United States.
Yesterday, White House health advisor Dr. Anthony Fauci warned that parts of the U.S. are starting to see a “disturbing surge” in new Covid-19 cases.
In Japan, the headline Nikkei 225 was up 0.27 percent and the broader Topix index, in Tokyo, added 0.22 percent. In Korea, the Kospi composite index added 1.48 percent.
Elsewhere in the Asian region, the Australian ASX 200 was up 0.18 percent by late morning.
In Hong Kong, the Hang Seng index was trading higher and on the mainland, in China, the equity markets were also trading higher.
Asian Traders Digest Covid-19 Remarks from Dr. Fauci
In front of the House Energy and Commerce Committee, overnight, White House health advisor Dr. Anthony Fauci said that he is “quite concerned” with a rise in coronavirus cases in states that “reflect an increase in community spread.” He also said that there is no need for “an absolute shutdown” yet.
According to Johns Hopkins University Medical Center, more than two million Americans have been infected with the Covid-19 contagion.
Bank of Japan also delivers remarks on the Economy
Today, the Bank of Japan (BOJ) said that “It is still unclear when the spread of COVID-19 will subside on a global basis, as the spread is continuing in emerging economies in particular. It seems inevitable that the negative impact on the global economy, including Japan, will become prolonged without effective vaccines and medicines.”
The BOJ also said that “due to expectations for the future, prices in financial markets have been high compared with the current severe situation of the real economy. It is necessary to closely monitor future developments in the markets to see whether there will be a correction in asset prices.
