Latest news update: Australian stocks slide after the US holiday

Australian stocks fall after US holiday

Shares in Australia and futures in Japan and Hong Kong fell on Friday morning, with Asia Pacific markets off to a weak start to the day following a quiet Thanksgiving break in the US.

Australia’s benchmark S&P/ASX 200 fell 0.4% in early trading, while futures on Japan’s Topix index and Hong Kong’s Hang Seng index fell 0.1%, respectively. and 0.3%.

Markets in the US were closed for Thanksgiving on Thursday and will run a short session on Friday. In Europe, the Stoxx Europe 600 index closed up 0.4% as traders weighed the possibility of currency tightening following strong US economic data released in the previous session and key meeting minutes. The latest books from the Federal Reserve.

Data released on Wednesday showed weekly US jobless claims hit their lowest level since 1969 and the Fed’s closely watched inflation gauge posted its biggest gain of the year in October. since the 1990s.

The Australian dollar slipped overnight.

UK and France clash over response to migrant tragedy on Channel

Boris Johnson and Emmanuel Macron on Thursday struggled to coordinate a unified response to the deaths of 27 migrants who drowned trying to cross the English Channel from France the day before.

The British and French governments, plagued by deteriorating relations since Brexit, have blamed criminal networks for the tragedy and vowed to crack down on gangs as asylum seekers risk their lives. took their lives in small boats.

“We need stronger European cooperation on this, because France is a transit country,” the French president said during a visit to Croatia.

On Thursday, 62 more migrants arrived in the UK in small boats, while France stopped another 30.

Tensions continued between Britain and France yesterday when Priti Patel, the British home secretary, said the French government had taken measures to prevent people from crossing the English Channel. She told the House of Commons: “I have offered to work with France to put officers on the ground and do whatever is necessary to secure the area so that vulnerable people do not risk their lives. their own by boarding unreliable boats.

Read more about Johnson and Macron.

South African countries put on UK travel redlist instead of Covid variant

The UK will put six South African countries back on its red list of travel restrictions, after an apparent increase in cases of a heavily mutated coronavirus variant prompted global health officials to warn.

Travelers returning from South Africa, Botswana, Namibia, Zimbabwe, Lesotho and Eswatini will be forced into a 10-day quarantine at a government facility from noon Friday, government officials said.

Direct flights from the six countries will be banned from midday on Friday until the hotel’s quarantine system kicks in and operates from 4am on Sunday.

The rule change comes after scientists were concerned about the ability of the B.1.1.529 Sars-Cov-2 variant to evade the vaccine and transmit it more quickly than the Delta variant. This strain, first identified in Botswana, is believed to be responsible for a resurgence of Covid cases in South Africa over the past week.

Read more about new variation.

What to see in Asia today

Income from Chinese technology: Food delivery company Meituan and short video platform Pinduoduo report earnings today. Meituan received a fine of 3.4 billion Rmbn ($530 million) after being found guilty of monopolistic practice in October. Despite the hefty fine, some analysts say the company has softened slightly. .

Market: The US stock market was closed on Thursday for Thanksgiving. Australian stocks fell in early trading, while futures in Japan were flat.

Data: Markets could be swayed by Australia’s October retail sales figures and Tokyo’s inflation figures, both reported today. Retail sales rose for the first time since May in September and are forecast to accelerate in October. ANZ also reports consumer confidence figures for New Zealand today.

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