Virus woes and tech crackdown hammer stocks; bonds rally – Reuters
- Date: 08-Jul-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Gulf
Virus woes and tech crackdown hammer stocks; bonds rally – Reuters
SINGAPORE, July 8 (Reuters) - Asian stocks fell to a six-week low on Thursday as an extended selloff in tech shares in Hong Kong and rising virus cases added to a broad risk-averse mood, pressuring oil prices and lending support to bonds and the dollar.
A surprise dovish turn from Chinese policymakers also sparked a rally in sovereign Chinese debt and sent 10-year yields to a 10-month low.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1% to its lowest since late May, shrugging off a positive tilt from Wall Street.
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