Stocks in Australia edge higher as Victoria state eases coronavirus restrictions

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SINGAPORE – Australian stocks rose early in Monday as foreclosure restrictions were relaxed in Victoria state.

the S & P / ASX 200 increased by around 0.4% as shares of major miners Rio Tinto and Fortescue jumped 1.43% and 3.3%, respectively.

Investors will watch airline stocks in Hong Kong and Singapore, including Cathay pacific and Singapore Airlines, after an anticipated air bubble between the two cities has been delayed. This came as Hong Kong saw a recent increase in coronavirus case.

Japanese markets are closed on Mondays for a public holiday.

Developments surrounding the coronavirus will likely continue to weigh on investor sentiment. South Korea is set to impose stricter distancing regulations for the greater Seoul area and the southwest region in an attempt to stem a resurgence of the coronavirus, according to Yonhap. Meanwhile, the United States recently reported nearly 200,000 new cases of the virus less than a week before Thanksgiving.

Currencies

the US dollar index, which tracks the greenback against a basket of its peers, was at 92.372 after falling from levels above 92.6 recently.

the Japanese yen traded at 103.83 per dollar after strengthening from levels above 104.4 against the greenback last week. the Australian dollar changed hands at $ 0.7306 after a turbulent trading last week which saw it above $ 0.732 and below $ 0.729.

Here’s an overview of what’s on offer:

  • Singapore: Consumer Price Index for October at 1 p.m. HK / SIN

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