Shares slip amid US-China, virus worries

Shares on the ASX have taken a slight dip in early trading after a weak lead from US markets last week and worries about rising coronavirus cases.

The S&P/ASX200 benchmark index was lower by 6.9 points, or 0.11 per cent, at 6017.1 points after the first 15 minutes of trade on Monday.

The All Ordinaries index was 5.5 points, or 0.09 per cent lower, at 6142.5.

The energy sector took the biggest hit, down 1.28 per cent, while information technology fared poorly too, down 0.62 per cent.

The materials sector had the biggest gain, up 0.38 per cent.

US markets closed lower on Friday after the country passed the grim milestone of 4 million total COVID cases.

Investors have also been concerned about relations between the US and China following a tit-for-tat moves by both countries to close the other’s consulate in one of their cities.

All three major US indices closed between 0.6 and 1,0 per cent lower.

The Australian dollar was trading at 71.07 US cents at 1015 AEST on Monday, higher from 70.94 US cents at Friday’s close.

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