Equities trade sideways amid the fear about the spread of the coronavirus, despite a record close on Wall Street
A man stands in front of a screen displaying Nikkei share average and the world's stock indices outside a brokerage in Tokyo, Japan. Picture: REUTERS/ISSEI KATO
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.08% in Asian trading, with Chinese blue chips down 0.38% Korea’s Kopsi down 0.37%. “In Asia there’s a little bit of concern about tapering but there is increasing understanding that we’re unlikely to get a tantrum,” said Farris. Australia was a rare bright spot, with the local index gaining 0.61%, helped by the announcement of a record share buyback by country’s largest bank, Commonwealth Bank of Australia, with its annual results.The dollar was supported by rises in longer and shorter dated treasury yields which reached their highest levels since mid July, with yields on benchmark 10-year treasury notes touching a five week high of 1.3610%.
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