Asian markets started higher on Monday, buoyed by hopes of a U.S fiscal package before the U.S. presidential elections next month and expectations of a coronavirus vaccine by the end of this year, though the mood was still cautious as infections jump.
was a tad lower after Prime Minister Jacinda Ardern won a second term at elections over the weekend, having risen over the week in anticipation of such a result.
But with her negotiating partner, Treasury Secretary Steven Mnuchin, in the Middle East until Tuesday, such a timeframe would seem to be overly optimistic, analysts said.Global coronavirus cases rose by more than 400,000 for the first time late on Friday, a record one-day increase as much of Europe enacts new restrictions to curb the outbreak.
“Chinese growth has bounced back well from its early COVID-19 losses and this data will be key to identify how the economy has progressed,” said Steven Dooley, chief strategist at Western Union Business Solutions.
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