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Asian investors anticipate modest rise in markets after mixed day on Wall Street

Added 12-02-20 07:04:04pm EST - “Investors in Asia were expecting small gains on Thursday, after Wall Street booked a choppy day due in part to a disappointing private jobs report indicating slowing economic activity. "Markets are quite likely to muddle through from…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Asian investors anticipate modest rise in markets after mixed day on Wall Street”. Below is an excerpt from the article.

NEW YORK (Reuters) - Investors in Asia were expecting small gains on Thursday, after Wall Street booked a choppy day due in part to a disappointing private jobs report indicating slowing economic activity.

“Markets are quite likely to muddle through from here,” said Michael Frazis, portfolio manager at Frazis Capital Partners in Sydney. “The vaccine is increasingly priced in. A couple of months ago, no one knew how deep coronavirus would be, or what the outcome of the election was. Now both sources of uncertainty have been removed, and it’s pretty supportive of markets.”

MSCI's gauge of stocks across the globe gained 0.09%. Nikkei futures were up about .07% and Hong Kong's Hang Seng index futures rose 0.23%.

U.S. private payrolls added fewer jobs than expected in November as growing new COVID-19 infections led to additional business restrictions. The bleak jobs report added to signs that the economy was decelerating as a tumultuous year nears a close.

Investors' hopes, however, were bolstered by advancements by COVID-19 vaccine candidates and the U.S. Congress passing a potential coronavirus stimulus package.

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