Asia Stocks Trade Mixed after the U.S. Reports a New High in Daily Coronavirus Cases!

Stocks in Asia were mixed on Monday as the coronavirus cases in the U.S. surged to a new daily-case high with more than 83,000 cases in both Friday and Saturday.

 

As of 9:24 local time in Thailand, Nikkei gained 0.01%, SSEC dropped 0.84%, ASX 200 rose 0.11% and Kospi fell 0.18%. Stocks in Hong Kong closed on Monday for a holiday.

Dow Jones Futures declined more than 130 points. S&P 500 Futures and Nasdaq Futures also traded in the negative territory as well.

 

The decline came as the U.S. reported a new record high of coronavirus cases with more than 83,000 cases Friday and Saturday after an outbreak in Sun Belt states that broke the U.S. previous record high at 77,300 cases back in July.

 

Tisco Securities expected SET Index to move in sideway-down trends and advised investors to keep a close eye on the uncertainty of the U.S. stimulus bills, while the coronavirus cases spiked again in the statesides.

Meanwhile, the prolonged political unrests in Thailand would reflect negatively on the Thai stock market as the Thai Prime Minister did not turn in his resignation as the protesters demanded.