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Asian Markets Mostly Lower as Hopes Fade for New US COVID-19 Relief Bill

A man walks by an electronic stock board of a securities firm in Tokyo, Monday, Oct. 19, 2020. Shares advanced in Asia on Monday after China reported its economy grew at a 4.9% annual pace in the last quarter, with consumer spending and industrial…

Asian markets are mostly lower Tuesday as hopes for a new U.S. coronavirus financial relief package steadily fade among investors.

The Nikkei index in Tokyo closed 0.4% lower. Sydney’s S&P/ASX index dropped 0.7%, while Taiwan’s TSEC index lost 0.3%. The KOSPI index in Seoul, however, gained 0.4%.

In late afternoon trading, Hong Kong’s Hang Seng index is down 0.1%, Shanghai’s Composite is up 0.2%, and Mumbai’s Sensex is up 0.7%.

U.S. House Speaker Nancy Pelosi has set a Tuesday deadline for a final agreement with the Trump administration over a new stimulus package. Pelosi said Monday the two sides have narrowed their differences, but remain far apart on some details.

In commodities trading, gold is selling at $1,905.30 an ounce, down 0.3%. U.S. crude oil selling at $40.84 per barrel, unchanged percentage-wise, and Brent crude is selling at $42.64 per barrel, also unchanged percentage-wise.

Despite the uncertainty surrounding the political stalemate in Washington, all three major U.S. indices are trending positively in futures trading.