Asian stocks follow Wall Street lower amid virus worries
BEIJING (AP) — Asian stock markets followed Wall Street lower on Tuesday as surging coronavirus infections in the United States and some other countries tempered investor optimism about development of possible vaccines.
Shanghai, Tokyo, Hong Kong and Seoul declined.
Overnight, Wall Street's benchmark S&P 500 index lost 0.2% as health care, financial and energy stocks declined.
Investor worries have risen as some U.S. states and European countries reimpose anti-virus curbs on travel and business, threatening to drag down shaky economic activity in what is expected to be a bleak winter.
“'Too much, too soon' was arguably the memo sent to market bulls,” said Mizuho Bank in a report. The surge in new U.S. cases “begs the question of whether vaccine euphoria was getting ahead of outbreak realities.”
The Nikkei 225 in Tokyo lost 0.2% to 26,486.61 and the Hang Seng in Hong Kong shed 0.5% to 26,381.28.
The Shanghai Composite Index lost 0.2% to 3,410.55 after opening higher following China's announcement of a 21.1% jump in November exports.
The Kospi in Seoul tumbled 1% to 2,718.61 while Sydney's S&P-ASX 200 advanced 0.2% to 6,688.00.
India's Sensex opened up 0.5% at 45,636.91. New Zealand and Southeast Asian markets gained.
Shares in China’s biggest online health platform, JD Health, rose 53% by midday in their trading debut in Hong Kong, reflecting investor enthusiasm for the fledgling industry as the country emerges from the coronavirus pandemic.
On Wall Street on Monday, the S&P 500 dropped to 3,691.96. The Dow Jones Industrial Average slid 0.5% to 30,069.79. The Nasdaq gained 0.4% to 12,519.95.
The S&P 500 had one of its best months in decades during November and added more to it last week.
Traders also are watching to see whether U.S....