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Asian stocks mixed after anti-virus curbs in Taiwan and Singapore

BEIJING (AP) – Asian stock markets were mixed on Monday after Taiwan և Singapore tightened anti-coronation restrictions և Wall Street recorded its biggest weekly decline in three months.

Shanghai և Hong Kong advanced and Tokyo և Seoul declined.

The Wall Street S&P 500 Index rose on Friday but ended the week up 1.4% with its first three-week decline in three weeks.

Taiwan and Singapore have announced restrictions on public gatherings and other curbs over the weekend following a new outbreak of worries that have raised concerns about the region’s economic recovery.

“Virus resurgence concerns may remain in the region,” said Yeap Jun Rong of the IG in a report.

The Shanghai Composite Index rose 0.9% to 3420.73, while the Tokyo Nikkei 225 fell 1.2% to 27753.83. Hang Seng in Hong Kong increased by 0.4% to 28142.85.

The Seoul Cospin fell 0.6 percent to 3,135.16 and the Sydney S&P-ASX 200 rose 0.3 percent to 7,033.80. New landland անդ Bangkok won while Singapore retreated.

The 180 new cases of coronavirus in Taiwan և 15 in Singapore were modest compared to thousands in India. But the rise of the economy, which seemed to be controlling the disease, caused concern. Malaysia, Thailand և The Philippines has re-established control in response to rising infections.

Thailand, which has largely managed to contain the outbreaks by effectively closing its borders and imposing quarantines, reported nearly 10,000 newly confirmed cases on Monday. About two-thirds of them were in prison.

“If the numbers go up, even if they are still low, you still do not have much time to break it before you can deal with a situation like India,” said Robert Carnell of ING in a report. The economic impact “will largely depend on the success of the current measures.”

Wall Street earnings on Friday were topped by tech stocks. Retail, banking and industrial stocks also grew.

The S&P 500 rose 1.5% to 4173.85. The Dow Jones Industrial Average rose 1.1% to 34,382.13, down 1.1% over the weekend. The Nasdaq was up 2.3% at 13,429.98 with a weekly loss of 2.3%.

This was followed by a three-day sell-off due to investor concerns about a possible rise in US inflation. Last week, major indexes recorded all-time highs.

Apple, Microsoft, Facebook, Amazon.com մայր Google’s parent company have all grown by 1% or more.

Government data on Friday showed that US retail spending in April was stable at the level of the previous month, but it was lower than the 1% growth forecast compared to March.

US crude rose 32 cents to $ 65.69 a barrel on the New York Mercantile Exchange. The contract gained $ 1.55 on Friday, making $ 65.37. In London, Brent oil, which was used to price international oils, improved by 31 cents per barrel to $ 69.02. It closed the previous session high at $ 1.66 – $ 68.71.

The dollar fell to 109.30 yen from 109.36 on Friday. The euro fell $ 1.2139 from $ 1.2143.


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