Asian shares were mixed Wednesday following another rally on Wall Street, tempered by fears over surging coronavirus cases in various parts of the world.
Japan's benchmark Nikkei 225 was little changed, inching down less than 0.1% to finish at 22,534.32. Australia's S&P/ASX 200 picked up 0.2% to 5,965.70. South Korea's Kospi added 1.4% to 2,161.51. Hong Kong's Hang Seng slipped 0.2% to 24,855.87, while the Shanghai Composite added 0.3% to 2,979.55.
"The recent acceleration in infections has rekindled concern that governments will be forced to shut down their economies once again, squandering the chance for the much-hoped-for economic bounce back," he said in a report. Investors have been focused on the prospects for an economic recovery as more businesses reopen after being shut down due to the coronavirus pandemic. Encouraging economic data, including retail sales and hiring, have helped stoke optimism that the recession will be relatively short-lived.
The World Health Organization said over the weekend that the pandemic is still in its ascendancy. The U.S. is seeing rapid increases in cases across the South and West and has more than 2.3 million cases and 120,000 confirmed virus-related deaths, according to a tally by Johns Hopkins University.
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