European, Asian shares slump – GulfToday
- Date: 30-Nov-2020
- Source: Gulf Today
- Sector:Financial Markets
- Country:Gulf
European, Asian shares slump – GulfToday
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Gulf Today Report
Europe stock slipped on Monday as eyes remain on Brexit negotiations, however, it still maintains its position for the best month as people remain optimistic for a vaccine.
London's FTSE 100 slipped 0.3%, while the pan-European STOXX 600 index fell 0.5% after four weeks of gains which have seen it rise nearly 15% so far in November.
UK awaits the outcome of the talks between UK Prime Minister Boris Johnson and EU Commission president Ursula von der Leyen.
Investors hope for a trade deal but talk crumbling five weeks before the deadline is also a possibility.
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Asian Shares
Asian shares fell on Monday despite the optimism for a vaccine led economic recovery and a high finish on Wall Street the previous week.
Japan's benchmark Nikkei 225 dipped 0.8% to 26,433.62 as markets throughout the region quickly lost early gains. South Korea's Kospi lost 0.9% to 2,608.79. Australia's S&P/ASX 200 slipped 1.3% to 6,517.80. Hong Kong's Hang Seng edged down 1.5% to 26,501.58, while the Shanghai Composite edged 0.1% lower to 3,404.90.
Stephen Innes, chief global market strategist at Axi said despite the fluctuation, investors are hopeful for a vaccination that would help in recovering the economy.
Innes said, "vaccines offer