World news – GLOBAL MARKETS – Asian equities fall amid concerns over Georgia Senate vote – Investing.com India

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Tokyo, January 5 (Reuters) – Asian stocks fell on Tuesday amid uncertainty over Georgia’s Senate outflows, which could have a major impact on future US President Joe Biden’s policies.

MSCI’s broadest index for stocks in the Asia-Pacific region outside of Japan

.MIAPJ0000PUS

fell 0.34%, pulling back from a record high in the previous session. Australian stocks

.AXJO

fell 0.44%. Chinese stocks

.CSI300

erased early losses, rising 0.26%.

Japanese stocks

.N225

lost 0.25% after a media report that the government will cut business hours in Tokyo and surrounding cities from Thursday.

Oil futures rose slightly in cautious trading as investors waited for a meeting later Tuesday , which the major crude oil producers will estimate production levels for February.

In the United States, control of the Senate is at stake in Georgia’s double elections on Tuesday. A Democratic win in both races could divert control of the Senate from the Republicans, but both competitions are very close and the results may not be known immediately, which could lead to the chaotic voices following last year’s US presidential election repeat.

« 2021 starts with a bang of crucial political and economic news that the markets can digest. The undisputed climax will be the result of the Georgia Senate runoff election, » wrote James Knightley, ING’s international chief economist, in a research protocol.

« If the Democrats win both seats, it should result in the biggest fiscal stimulus for 2021. Still, this could be the excuse for a short-term consolidation in risk markets after a strong post-election rally. »

The uncertainty about the Georgia vote and worries about increasing coronavirus in fections caused Wall Street to plummet on Monday.

The Dow Jones industrial average

.DJI

fell 1.27%, the S&P 500

.SPX

lost 1.49% during Tech Heavy

Nasdaq

.IXIC

down 1.48%.

Outgoing Republican President Donald Trump’s call to pressure Georgia’s top election officials to « find » votes to reverse his loss to elected President Biden in the state also unsettled some investors . House and Senate are due to confirm Biden’s election victory Wednesday, but some Republicans have pledged to vote against it and thousands of Trump supporters are expected to gather in the capital to protest. MSCI’s broadest metric for global stocks

.MIWD00000PUS

In Asia, it fell 0.06% on Tuesday and also pulled back from a record set in the previous session.

Increased risk aversion helped

Dollar index

= USD rebounded from a 2 1/2 year versus a basket of major currencies, but moves were subdued at the start of the year.

British Pound GBP = D3 bought $ 1.3570. Sterling has seen a 0.7% decline since Monday when Prime Minister Boris Johnson ordered a lockdown to try to slow down a rapidly spreading variant of coronavirus. Crude oil futures

CLc1

rose 0.23% to $ 47.73 a barrel while Brent Futures

LCOc1

up 0.12% to $ 5115 a barrel. The big oil producers will meet later on Tuesday to decide on production volumes for February after talks collapsed the previous day. was a little lower. Spot gold

XAU =

fell 0.21% to $ 1,938.25 an ounce. GOL /

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