© Reuters. FILE PHOTO: A man looks at stock market monitors in Taipei January 22, 2008. REUTERS/Nicky Loh
By Kane Wu
HONG KONG (Reuters) – Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
MSCI’s gauge of Asia Pacific stocks outside Japan fell as much as 0.29%, with Australia’s down 0.39%.
225 hit a six-month low in early trade and widened the losses to 1.05%.
The opened 0.3% lower and China’s benchmark CSI300 Index slid 0.7% at the start.
In Beijing, policymakers kept the benchmark lending rate for corporate and household loans unchanged at its July fixing on Tuesday, despite growing expectations for a cut after a surprise lowering of bank reserve requirements.
“The markets are clearly on risk-off mode,” said Edison Pun, senior market analyst at Saxo Markets, adding that Wall Street’s uptrend is weakening.
Stocks on Wall Street fell as much as...read more...