Asian stock markets are mostly lower on Monday, despite broadly positive cues from Wall Street on Friday, as trader continue to be cautious amid the surge in coronavirus cases in the region and the possible restrictions on economic activity in several markets. The US Federal Reserve chair Jerome Powell on Sunday also warned that coronavirus remains a threat to the economy. Asian markets closed mostly lower on Friday.
However, the cues from Wall Street on Friday were broadly positive as continued optimism about a swift economy recovery after repeated assurances that the Federal Reserve will maintain its ultra-easy monetary policy for the foreseeable future generated continued buying interest.
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