BREAKING: Asian Stock Market: Struggles to Justify Policymakers' Battle with Coronavirus

• Asian equities trade mixed as virus resurgence tame vaccine hopes.
• BOJ, RBA leaders indicate QE importance, Tokyo hints highest alert level.
• Economics flash mixed signals, US Futures, T-yields stay depressed.

Asian shares alternate gains with losses, mostly depressed, while heading into Wednesday’s European session. Recently firming coronavirus (COVID-19) grip in Asia-Pacific dims optimism that covid vaccines are coming stronger and sooner. While portraying the mood, MSCI’s index of Asia-Pacific shares, ex-Japan, prints 0.12% intraday gains that contrasts with 0.65% losses made by Japan’s Nikkei 225 so far today.

With the latest increase in Tokyo’s COVID-19 cases, Japan’s Chief Cabinet Secretary Kato Katsunobu signaled a move towards the highest alert level. Following that BOJ Governor Haruhiko Kuroda backs ultra-easy monetary policy.

It should also be noted that the Reserve Bank of Australia (RBA) Governor Philip Lowe praised the Quantitative Easing (QE) during his latest appearance bout couldn’t weigh ASX 200, currently up 0.50% to 6,532.50.  RBA’s Lowe also highlighted the importance to tame Canberra-Beijing tension. Recently, China warned Australia and Japan over a new defense pact, per ABC news.

New Zealand’s NZX 50 drops over 1.0% as fears of a fresh COVID-19 wave gains momentum whereas stocks in China and Hong Kong dribble over the Asian major’s ability to form the world’s biggest trade group.

Elsewhere, equities from South Korea and Indonesia prints mild gains amid a lack of fresh directions while Indian bourses are inching lower, initially with small losses, amid the on-going cautious sentiment.

U.S. 10-year Treasury yields and S&P 500 Futures stay mildly offered as chatters over the coronavirus stimulus package deadlock regain market attention. Also weighing on American markets, also on the global trading sentiment, could be the second back-to-back weak US Retail Sales, 0.3% MoM in October.

With the virus woes regaining market attention and the vaccines are still away, global trade sentiment can depress further.