Asian stocks fall as Delta strain dampens investor mood
Asian stocks took a tumble on Tuesday morning, as a surge of the coronavirus’ Delta variant in the region’s major markets left a negative impact on investors’ risk sentiment.
Japan’s Nikkei 225 went down 0.91% by 10:47 PM ET (2:47 AM GMT). Data released earlier in the day revealed a 0.1% year-on-year growth of the Tokyo core consumer price index (CPI) in July, while the Tokyo CPI contracted 0.1% year-on-year. The country’s CPI excluding food and energy inched up 0.2% month-on-month in July.
Meanwhile, in South Korea, KOSPI slipped 0.14% even as the country’s CPI experienced a better-than-expected 2.6% year-on-year in July.
Going over to China, Shanghai Composite dipped 0.30%, while the Shenzhen Component climbed up 2.25%.
In Australia, the ASX 200 fell 0.26%, while in Hong Kong, the Hang Seng Index took a 0.88% loss.
The rapid spread of COVID-19, and its novel Delta strain, globally remains a concern for investors. In China, cases have begun to spread from the coast to inland cities, prompting the reimplementation of restrictive measures to curb the virus’ outbreak.
In other news, investors are now setting their sights on the latest US jobs report that will be released on Friday to gauge the labor market’s recovery.