Asian shares defy Wall Street gains as China rally cools
Bets that more U.S. stimulus was in the offing came despite signs that talks in Washington had stalled again, leading the Trump administration to call on Congress to pass a less ambitious coronavirus relief bill.
U.S. Senate Republicans said they will go along with what President Trump wants in coronavirus relief legislation, a White House spokeswoman said on Monday. Beijing’s tensions with Washington are also in view after the White House moved forward with three sales of advanced weaponry to Taiwan, sources familiar with the situation said on Monday.
The move in the run-up to the U.S. election is likely to anger China, which considers Taiwan a renegade province. Investors are also closely watching the global resurgence in coronavirus cases after British Prime Minister Boris Johnson on Monday announced a new system of restrictions on parts of England. Lawmakers will vote on the move on Tuesday.In energy markets, oil prices slipped after a force majeure at Libya’s largest oilfield lifted, a Norwegian strike affecting production ended and U.S. producers began restoring output after Hurricane Delta.
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