ZFX: Stock markets were mixed as optimism of vaccine hopes faded

Stocks in Asia Pacific Region were mixed on Friday, following the bearish momentum of Thursday’s fall in the US. The initial jobless claims data of the US missed expectations, hurting the positive sentiment amid the recent vaccine hopes.

Furthermore, investors were cautious about the tensions between China and the US. Reuters reported that Trump’s administration is considering imposing travel ban of the US to all members of the CCP and their families.

ZFX analyst Jacob Leung said that, the optimism from the vaccine hopes is fading out. We can’t expect it can be supportive to the stock markets for so long. No good news from the second wave of pandemic would be a main obstacle of the economic activities, which is implying the unsatisfactory jobless data on Thursday.

In FX market, the dollar edged higher as the second wave of the coronavirus outbreak in the US obviously curb the economy reopening, boosting safe-haven demand. The confirmed cases of new coronavirus over the world exceeded 13.8 million, nearly 590000 death.

ZFX analyst Jacob Leung said that, so far there is no clear theme in the various markets. We should be aware that the markets in short term sometimes move with no direction while the market sentiment was just ups and downs, causing unusual fluctuations.

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