GLOBAL EQUITY MARKET OF 15th JAN 2021

Asian shares stumbled lower on Friday reversing earlier gains as rising Covid-19 cases in China reinforced investor concerns over the prospects for a global economic recovery.

The Hang Seng gained 0.27%,straits times surged 0.16% and the Shanghai Composite rose 0.01%. The kospi lost 2.03%, SGX Nifty plunged 1.12%, set composites fell 1.10%.

European markets traded in negative territory on Friday as a re emergence of Covid-19 cases in China pulled back the positive sentiment generated by U.S. President-elect Joe Biden’s $1.9 trillion stimulus plan.

The CAC 40 is lower by 0.70%, while the FTSE 100 and the DAX are lower by 0.71%, 0.50% respectively.

U.S Stock futures fell on Friday as President-elect Joe Biden announced details of a $1.9 trillion stimulus plan and major banks got set to release their quarterly results, kicking off the earnings reporting season.