Asian stock markets are trading mostly lower on Thursday, ignoring the positive cues overnight from Wall Street, as traders remained cautious amid mounting fears over the fresh wave of COVID-19 infections in several markets. More countries might look to impose stricter restrictions if the spread of the virus does not show signs of slowing, raising concerns about the pace of global economic rebound. Asian markets closed mixed on Wednesday.
The Australian stock market is slightly higher after giving up most of the strong early gains on Thursday, extending the gains of the previous session, with the benchmark S&P/ASX 200 staying above the 7,300 level, following the positive cues overnight from Wall Street, with technology and mining stocks providing the boost. However, the upside is capped amid concerns about the rising local coronavirus cases in New South Wales.
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