Stocks in Asia-Pacific were lower on Tuesday as concerns over a coronavirus surge in multiple countries dulled optimism over the vaccine rollout in the U.S.
In Japan, the Nikkei 225 tailed off 44.6 points, or 0.2%, to 26,687.64.
The Japanese yen traded at 104.05 per U.S. dollar after seeing levels below 103.8 against the greenback yesterday.
In Hong Kong, the Hang Seng index lost 182.23 points, or 0.7%, to 26,207.29.
Shares in Australia were also lower. Minutes from the Reserve Bank of Australia’s December policy meeting released Tuesday warned of the possibility of "an extended period of high unemployment" as it would take time for output to reach its pre-pandemic level.
Shares of Australian coal miners sank on Tuesday.
Whitehaven Coal dropped 5.9%, Coronado Global Resources plunged 10% while Yancoal fell 8.4%. Major miner BHP also saw its stock drop 2.3%.
The declines came after Chinese state media reported that China’s top economic planner has approved power plants to import coal without clearance restrictions "except for Australia." On Tuesday, Australia’s prime minister said it was seeking clarification from China about the reports.
The two countries have been locked in a trade dispute for months, with China slapping tariffs on Australian products ranging from barley to wine.
The Australian dollar changed hands at $0.7526 following levels above $0.756 seen yesterday.
CHINA
In Shanghai, the CSI 300 gained 10.27 points, or 0.2%, to 4,945.10.
China’s industrial production grew 7% year-on-year in November, the country’s National Bureau of Statistics announced Tuesday. That was in line with expectations from a Reuters poll. Meanwhile, retail sales in China increased 5% in November as compared with a year ago, missing forecasts for a 5.2% increase by analysts
In other markets
In Shanghai, the CSI 300 gained 10.27 points, or 0.2%, to 4,945.10.
In Korea, the Kospi index dropped 5.38 points, or 0.2%, to 2,756.82
In Taiwan, the Taiex Index dumped 142.53 points, or 1%, to 14,068.52.
In Singapore, the Straits Times Index edged lower 1.42 points, or 0.1%, to 2,856.72.
In New Zealand, the NZX 50 stumbled 67.95 points, or 0.5%, to 12,767.17.
In Australia, the ASX 200 slid 28.9 points, or 0.4%, to 6,631.34.
