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Sunday, November 28, 2021

Latest News Updates: Aussie Stocks Fall Following US Holidays.

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Australian stocks tumble after US holidays.

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

The Australian benchmark S & P / ASX 200 index fell as much as 0.4 percent in early trading, while futures for Japan’s Topix Index and Hong Kong’s Hang Seng Index fell 0.1 and 0, 3 percent, respectively.

Markets in the US closed for Thanksgiving on Thursday and a shortened session will run on Friday. In Europe, the Stoxx Europe 600 indicator closed 0.4 percent higher as traders weighed the likelihood of monetary tightening after strong US economic data released during the previous session and the minutes of the last meeting of Federal Reserve policy.

Data released Wednesday showed that weekly U.S. jobless claims had hit their lowest point since 1969 and that a measure of inflation closely followed by the Fed had posted its biggest year-on-year jump in October since the 1990s.

The Australian dollar fell overnight.

UK and France clash over response to Canal migrants tragedy

Boris Johnson and Emmanuel Macron were struggling Thursday to coordinate a coherent response to the deaths of 27 migrants who had drowned trying to cross the English Channel from France the day before.

The UK and French governments, hampered by deteriorating relations since Brexit, blamed criminal networks of human smugglers for the tragedy and vowed to crack down on gangs as would-be asylum seekers risked their lives in small boats.

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

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

Tensions continued between the UK and France yesterday with Priti Patel, the British Home Secretary, saying that the French government had a responsibility to prevent people from crossing the canal. “I offered to work with France to put officers ashore and do absolutely whatever is necessary to secure the area so that vulnerable people do not risk their lives by getting into boats that are not fit for navigation,” he told the House of Representatives. Common

Read more about Johnson and Macron.

Southern African countries included in the UK travel red list on the Covid variant

The UK will put six southern African countries back on its travel restriction red list, after an apparent spike in cases of a highly mutated variant of the coronavirus caused alarm among global health officials.

Travelers returning from South Africa, Botswana, Namibia, Zimbabwe, Lesotho and Eswatini will be forced to quarantine for 10 days at a government facility starting at noon on Friday, government officials said.

Direct flights from the six countries will be banned from noon on Friday until the hotel quarantine is operational starting at 4 a.m. M. From Sunday.

The rule change follows growing concern by scientists about the ability of the B.1.1.529 Sars-Cov-2 variant to evade vaccines and transmit faster than the Delta variant. The strain, first identified in Botswana, is believed to be behind a resurgence of Covid cases in South Africa over the past week.

Read more about the new variant.

What to see in Asia today

Chinese Tech Profits: Food delivery company Meituan and short video platform Pinduoduo report earnings today. Meituan had to swallow a 3.4 billion rupee ($ 530 million) fine after being convicted of monopolistic practices in October. Despite the huge fine, some analysts say the company came out lightly.

Markets: US stock markets were closed on Thursday for Thanksgiving. Australian stocks fell in early trading, while futures in Japan were flat.

Data: Markets could be affected by Australian retail sales figures for October and Tokyo inflation figures, both reported today. Retail sales increased for the first time since May in September and are expected to have accelerated in October. ANZ is also reporting New Zealand consumer confidence figures today.

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