Asian stocks hit 2-month lows Delta variants revive COVID-19 scare Reuters

By Swati Pandey

SYDNEY (Reuters) – Asian stocks hit two-month lows on Friday, setting their worst weekly performance since mid-May as confidence took a toll on the global spread of the Delta virus variant and worries about halting global economic recovery. .

European futures showed some stability in sales with the Eurostoxx 50 futures and German futures rose 0.4% and London futures 0.3%. The future of the E-Mini was overshadowed.

Asian mood also seems to have improved by dusk, although the main indices were in the red zone.

MSCI’s broadest Asia-Pacific stock index reached 665.19 outside of Japan, a level not seen since mid-May. Some losses fell by 0.3% to 672.29.

So far this week, the index has fallen by 2.6%, the biggest drop since mid-May.

It slipped 0.6%. Chinese stocks were also weaker with a blue CSI300 index down 0.3%.

Shares in Australia fell by 1.2%, and orders at the Sydney home, the most populous city in the country, were further tightened to stop the spread of the coronavirus Delta variant.

Analysts say an accumulation of events has caused a turn of sentiment rather than a single catalyst.

As central banks ease their policy of efforts to control inflation in fears of an economic recovery, the coronavirus Delta variant is spreading rapidly around the world and has yet been overshadowed by low vaccination rates.

The political tensions in the Middle East, Russia and China also caused concern for investors, as did the crackdown on Chinese companies listed abroad by Beijing.

As a result, markets have begun to question this year one of the most successful professions this year, the so-called narrative narrative, that betting on assets that strengthen the economy and drive higher inflation will be more stable and secure.

Overnight, profitability fell 2.8 basis points to 1.293%. It fell to 1.25% per day. The 30-year Treasury bond fell 1.9 points to 1.925%.

In equities, the Dow fell 0.7%, the S&P 500 lost 0.86% and the technology-driven Nasdaq 0.7%.

“The rate movement is no less a reflection of Fed signals and the optimism of reflection is dampened by an increase in COVID delta concerns,” Bank of America (NYSE 🙂 Securities analysts said in a statement.

“We believe that these factors can keep rates lower until the market stabilizes and rates find a catalyst to re-value at levels that match basic prices.”

In late Asian trade, 10-year paper yields rose to 1.329%, although they are still close to the highs of 1.776% reached in March 2021.

Meanwhile, readings on the number of Americans filing new unemployment claims added on Thursday that the recovery in the COVID-19 pandemic labor market remains low.

In currencies, the risk against the Australian and New Zealand dollars was sensitive and fell by 0.1%.

The safe haven of the yen was close to a one-month high of 110.01 per dollar. The euro fell to $ 1,1834.

That left him with a basket of six seven-dollar coins, 92,452. [FRX/]

Gold, another active refuge, was on its way to earning its third weekly profit. Eventually it fell 0.1% to $ 1,800 an ounce.

Oil prices added to nightly profits. it rose 14 cents a barrel to $ 74.26. It added 23 cents to $ 73.17 per barrel. [O/R]