Tokyo, Sep 27 (BUS): Although some parts of the world have lifted COVID-19 restrictions and are gradually returning to “normal” life, there are still concerns in Asia about further waves of infection because vaccine releases have been slower than in the West in some countries. .
In Singapore, other COVID-19 restrictions have begun in an effort to curb the spread of the virus, as daily new cases surpass the city’s April 2020 peak, Reuters reports.
In general, the manufacturing sector may remain resilient as evidenced by the previous phases of constraints, but the service sector may come under pressure. “Adjustments to the previous business and softer tightening compared to previous restraint phases may help mitigate some of the impact,” said Yip Jun Rong, market strategist at IG in Singapore.
Wall Street ended a volatile week of trading with a mixed finish for major stock indices, even though the S&P 500 managed to post its first weekly gain in three.
The S&P 500 rose 0.1% to 4455.48 and is now within 1.9% of its all-time high on September 2. The Dow Jones Industrial Average added 0.1% to 34,798. The Nasdaq fell less than 0.1% to 15047.70, while the Russell 2000 Index fell 0.5% to 2,248.07.
US markets went through a volatile month in September and investors may be in a bit more volatile due to various concerns, including COVID-19 and its continuing impact on the economy, along with the slow recovery of the labor market.
Concerns about troubled Chinese property developer Evergrande continue to weigh on global markets. Some Chinese banks on Friday disclosed what they owe on Evergrande, in an effort to allay fears of financial turmoil as they grapple with less than $310 billion in debt.
In energy trading, US crude added $1.17 to $75.15 a barrel in electronic trading on the New York Mercantile Exchange. It rose 68 cents to $73.98 a barrel on Friday. Brent crude, the international benchmark, rose $1.29 to $79.38 a barrel.
In currency trading, the US dollar fell slightly to 110.69 Japanese yen from 110.71 yen. The cost of the euro was $1.1724, up from $1.1722.