Asian Stock Market: Whispers cautious tone as risk sentiment deteriorates
- Asia-pacific stocks remain mixed for the second straight day.
- Rising coronavirus cases globally pose threats to economic recovery and growth.
- China offers to cooperate with Washington on Afghanistan but calls for the easing of other pressures.
Asian shares mostly edge lower on Tuesday amid growth and the delta variant concerns, deviating from the overnight gains on Wall Street.
MSCI’s broadest index of Asia-pacific shares outside Japan declined 0.04%.
Investors remain concerned about the worries of political turmoil in Afghanistan and the extension of lockdown in several countries in the region.
The Shanghai Composite Index gained 0.2%, as traders look forward to more policy support to bolster a wobble Chinese economic recovery.
Japan’s Nikkei 225 rose 0.24% following the record closing on Wall Street. The S&P 500 posted its 49th record closing on Monday. Upbeat corporate earnings also boosted the sentiment.
Hong Kong’s Hang Seng Index lost 0.68%, Kospi declined 0.79%.
The ASX 200 fell 0.14% to 7,572, falling for the second straight day amid a steady rise in COVID-19 cases in major cities. The Reserve Bank of Australia (RBA) highlighted the risk of the recent outbreak of coronavirus on economic recovery in its latest Minutes of Meeting.
The US Dollar Index (DXY) remains strong near 93.00 with 0.13% gains.
Gold edges lower to trade at $1,786 per ounce.
Author
Rekha Chauhan
Independent Analyst
Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.
