Thursday, December 2, 2021
Home Business Latest news updates: Australian stocks slip following US holiday

Latest news updates: Australian stocks slip following US holiday

Australian stocks slip following US holiday

Stocks in Australia and futures in Japan and Hong Kong dropped on Friday morning, with Asia Pacific markets getting off to a weak begin to the day following a quiet Thanksgiving holiday within the US.

Australia’s benchmark S&P/ASX 200 fell as a lot as 0.4 per cent in early buying and selling, whereas futures for Japan’s Topix and Hong Kong’s Hang Seng index dropped 0.1 and 0.3 per cent respectively.

Markets within the US have been closed for Thanksgiving on Thursday and can run a shortened session on Friday. In Europe, the Stoxx Europe 600 gauge closed up 0.4 per cent as merchants weighed up the chance of financial tightening following sturdy US financial knowledge launched throughout the earlier session and the minutes of the Federal Reserve’s newest coverage assembly.

Data launched on Wednesday confirmed that US weekly jobless claims had reached their lowest level since 1969 and {that a} measure of inflation adopted intently by the Fed had posted its greatest year-on-year bounce in October because the Nineteen Nineties.

The Australian greenback slipped in a single day.

UK and France conflict over response to Channel migrant tragedy

Boris Johnson and Emmanuel Macron have been on Thursday struggling to co-ordinate a coherent response to the deaths of 27 migrants who had drowned attempting to cross the English Channel from France the day past.

The UK and French governments, hampered by deteriorating relations since Brexit, blamed legal networks of people-traffickers for the tragedy and vowed to crack down on the gangs as would-be asylum seekers risked their lives in small boats.

“We need stronger European co-operation on this, given that France is a transit country,” the French president stated throughout a go to to Croatia.

On Thursday, an extra 62 migrants reached the UK in small boats, whereas France stopped one other 30.

Tensions continued between the UK and France yesterday with Priti Patel, the British residence secretary, saying the onus was on the French authorities to cease folks crossing the Channel. “I’ve offered to work with France to put officers on the ground and do absolutely whatever is necessary to secure the area so that vulnerable people do not risk their lives by getting into unseaworthy boats,” she instructed the House of commons.

Read extra about Johnson and Macron.

Southern African nations placed on UK journey pink checklist over Covid variant

The UK will place six southern African nations again on its pink checklist of journey restrictions, after an obvious surge in circumstances of a closely mutated coronavirus variant brought about alarm amongst world well being officers.

Travellers getting back from South Africa, Botswana, Namibia, Zimbabwe, Lesotho and Eswatini will likely be compelled to quarantine for 10 days at a authorities facility from noon on Friday, authorities officers stated.

Direct flights from the six nations will likely be banned from noon on Friday till lodge quarantine is up and working from 4am on Sunday.

The rule change follows mounting concern by scientists over the B.1.1.529 Sars-Cov-2 variant’s means to evade the vaccines and transmit quicker than the Delta variant. The pressure, first recognized in Botswana, is believed to be behind a resurgence in Covid circumstances in South Africa over the previous week.

Read extra in regards to the new variant.

What to observe in Asia at present

Chinese tech earnings: Food supply firm Meituan and quick video platform Pinduoduo report earnings at present. Meituan needed to swallow a Rmb3.4bn ($530m) superb after being discovered responsible of monopolistic practices in October. Despite the large superb, some analysts say the corporate received off calmly.

Markets: US inventory markets have been closed on Thursday for Thanksgiving. Australian stocks fell in early buying and selling, whereas futures in Japan have been flat.

Data: Markets might be affected by Australia’s October retail gross sales figures and Tokyo’s inflation figures, each reported at present. Retail gross sales rose for the primary time since May in September, and are forecast to have accelerated in October. ANZ additionally reviews client confidence figures for New Zealand at present.

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