SYDNEY – Asian shares slipped on Monday on fears the global economy may sputter for a while due to a resurgence of coronavirus infections in Europe, while fading hopes for U.S. fiscal stimulus also weighed.
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The gloom spread to early European trade with pan-region Euro Stoxx 50 futures STXEc1 and German DAX futures FDXc1 both down 0.9%, while France’s CAC 40 futures FCEc1 stumbled 0.6%. Futures for London’s FTSE FFIc1 were off 1.1%.
S&P 500 e-minis ESc1 declined 0.6%, also pointing to a weak start for Wall Street on Monday.
Most major Asian indexes were in the red and MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.6% weaker at 565.75.
Australia’s .AXJO benchmark index slipped 0.7% while New Zealand’s .NZ50 faltered 0.8%. Chinese shares were lower too with the blue-chip index .CSI300 down 0.8%. Japanese markets were closed for a public holiday.