Asian stocks decline as Covid variant fears rise
Asia Pacific stocks recorded poor performance on Monday morning as fears of a more contagious Delta COVID-19 variant grow while central banks consider stimulus measure removal.
Japan’s Nikkei 225 experienced a drop of 0.15% while South Korea’s KOSPI traded 0.26% lower.
Sydney Australia’s ASX 200 recorded a 0.17% drop while dealing with its latest Delta COVID-19 variant outbreak.
China’s Shanghai Composite gained 0.02% and Shenzhen Component jumped 0.60%. The country’s manufacturing and non-manufacturing purchasing managers’ indexes (PMIs) are due on Wednesday.
Global shares experienced record highs after the released inflation data from the U.S. during the previous week. The core personal consumption expenditures index inched up 0.5% month-on-month in May while growing 3.4% year-on-year.
Meanwhile, progress on U.S. President Joe Biden’s bipartisan U.S. infrastructure agreement is continuously being monitored by investors. It is valued at $1.2 trillion for a period of eight years.