Chinese stocks drove Asian markets higher on Monday, though sentiment was still cautious ahead of a U.S. Presidential debate and as a spike in new coronavirus cases undermined global economic recovery hopes.
reversed early losses to edge up, led by positive news on the coronavirus front with new infections in the country's second-most populous state of Victoria down sharply and allowing authorities to ease some of the mobility restrictions.
Particularly worrying is a resurgence of COVID-19 cases in Europe, dousing earlier hopes that authorities might have started to exert some control on the outbreak and raising further strains on businesses already grappling with losses. COVID-19 cases are edging closer to 33 million around the globe with 992,470 reportedly dead with Europe seeing a surge in new infections.
Investor focus will next be on the first debate between U.S. President Donald Trump and rival Joe Biden on Tuesday ahead of the November election.
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