SYDNEY: Asian shares slipped on Monday on fears the global economy may sputter for a while due to a resurgence of coronavirus infections in Europe, while fading hopes for U.S. fiscal stimulus hopes also weighed.
Australia's benchmark index slipped 0.7per cent while New Zealand's faltered 0.8per cent. Chinese shares were lower too with the blue-chip index down 0.8per cent. Japanese markets were closed for a public holiday. The biggest threat to world growth is a resurgent pandemic - coronavirus cases have now surpassed 30 million globally - with analysts fearing growth and inflation could surprise on the downside in the coming year. A lack of material development on U.S. stimulus package is also an overhang, they said.
The euro was up 0.16per cent at US$1.1855 while the risk-sensitive Australian dollar was also slightly higher at US$0.7314. The British pound was up 0.25per cent at US$1.2947.