GLOBAL MARKETS-Asian stocks fall on concerns about fresh lockdowns, banking sector

By Suzanne Barlyn
NEW YORK, Sept 21 (Reuters) - Asian shares opened weaker on
Tuesday on concerns about new pandemic lockdowns in Europe and
after reports about financial institutions allegedly moving
illicit funds hurt global banking stocks.
JPMorgan Chase & Co JPM.N and Bank of New York Mellon Corp
BK.N on Monday fell 3.1% and 4.0%, respectively, while HSBC
Holdings Plc HSBA.L and Standard Chartered Plc STAN.L hit
25-year-lows on reports that they and others moved funds despite
red flags about the origins of the money.
"The question is whether or not the residue of that impacts
the performance of regional financials," said CommSec market
analyst Tom Piotrowski in Sydney. "Certainly, HSBC shares will
be looked at very closely as far as the Asian session is
concerned."
On Wall Street, the Dow Jones Industrial Average .DJI
fell 1.84%, the S&P 500 .SPX lost 1.16%, and the Nasdaq
Composite .IXIC dropped 0.13%.
U.S. stocks have tumbled over the past three weeks as
investors dumped heavyweight technology-related stocks following
a stunning rally that lifted the S&P 500 and the Nasdaq to new
highs.
Emerging market stocks lost 1.64%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 1.26%
lower.
In Asia, Australia's S&P/ASX 200 .AXJO declined 0.5% while
South Korea's Kospi .KS11 fell 0.9%. Japan is closed for a
public holiday.
Hong Kong's Hang Seng index futures .HSI .HSIc1 were down
0.36%.
E-mini futures for the S&P 500 EScv1 rose 0.10%.
The dollar index =USD rose 0.639% as the euro EUR=
dipped 0.03% to $1.1766.
New pandemic measures in the UK set off declines in airline,
hotel and cruise companies in both European and U.S. markets,
spurring fears about further restrictions.
A new round of pandemic business restrictions would threaten
a nascent recovery and further pressure equity markets.
The U.S. Congress has also for weeks remained deadlocked
over the size and shape of another coronavirus-response bill, on
top of the roughly $3 trillion already enacted into law.
The death of U.S. Supreme Court Justice Ruth Bader Ginsburg
appeared to make the passage of another stimulus package in
Congress less likely before the Nov. 3 presidential election,
sparking large declines in the healthcare sector.
U.S. President Donald Trump said he would put forward his
nominee on Friday or Saturday and called upon the Senate,
controlled by his fellow Republicans, to vote on confirmation
ahead of the election. Investors were also keeping a close eye on China tensions.
China's ByteDance and Oracle Corp ORCL.N , also on Monday,
issued conflicting statements on Monday over the terms of an
agreement they reached with the White House over the weekend to
allow TikTok to continue to operate in the United States.
ByteDance was racing to avoid a crackdown on its popular
short-video app after the U.S. Commerce Department said on
Friday it would block new downloads and updates to the app.
Taiwan said on Monday its armed forces have the right to
self-defence and counterattack amid "harassment and threats", in
an apparent warning to China, which last week sent numerous jets
across the mid-line of the sensitive Taiwan Strait. In commodity markets, U.S. crude CLc1 rose 0.92% to $39.67
per barrel while Brent LCOc1 was flat at $41.44.
Spot gold XAU= added 0.2% to $1,917.06 an ounce. U.S. gold
futures GCc1 % to $1,901.20 an ounce.

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