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Gulf Today Report

Asian shares mixed on Monday as coronavirus cases surge outweighing the positive news of US stimulus aid.

In Japan and Hong Kong markets recorded a decline but it rose in South Korea and Shanghai. 

According to Jingyi Pan of IG, investors are already factoring expectations for the fresh stimulus. 

"The tentative accord on the approximate $900 billion coronavirus stimulus deal, having been the talk of the town for weeks, brought forth little fresh enthusiasm for markets," Pan said. 

Tokyo's Nikkei 225 index lost 0.2% to 26,714.42 while in Hong Kong the Hang Seng declined 0.2% to 26,432.20. Australia's S&P/ASX 200 shed 0.1% to 6,669.90. 

India’s Sensex was flat at 46,948.48. 

South Korea's Kospi recovered from early losses, gaining 0.2% to 2,778.65. The Shanghai Composite index gained 0.6% to 3,414.72. 

Thailand's benchmark SET index lost 3.1% as the country records coronavirus outbreak in a seafood market near Bangkok. 

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European stock 

European stocks fell on Monday as Britain detects new strain of coronavirus that is 70% transmissible. 

London's benchmark FTSE 100 index slid more than 1.0 per cent, while eurozone indices dived over 2.0 per cent -- with trade impacted also by Britain and the EU failing again to reach a post-Brexit trade deal.

A number of countries have placed a ban on flights from Britain as the new strain spirals “out of control.”

The new strain affected the sentiments of the investors despite US lawmakers agreeing on a nearly $900 billion Covid-19 aid

"Coming at a time when another Brexit deadline has been missed... it's no surprise to see sentiment taking a big hit."