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Asian stocks extend retreat as Delta fears deepen Investors rattled by virus surge that forces govts to re-impose curbs Afp July 21, 2021 Paper findings challenge the deeply-held notion that the stock market is a reflection of strong economy and vibrant financial sector. PHOTO: FILE HONG KONG: Asian equities extended losses on Tuesday following another rough day for global markets as the fast spreading Covid Delta variant fuels concerns over the expected economic recovery. Investors have been rattled in recent weeks by data showing the highly transmissible virus surging across the world, forcing some governments to re-impose containment measures. Even countries with elevated vaccination rates have seen a big increase in new cases, though observers point out that hospitalisations and deaths are being kept down thanks to the jabs. ....
Asia extends global retreat as Delta fears deepen July 21, 2021 Hong Kong: Asian equities extended losses on Tuesday following another rough day for global markets as the fast-spreading Covid Delta variant fuels concerns over the expected economic recovery. Investors have been rattled in recent weeks by data showing the highly transmissible virus surging across the world, forcing some governments to reimpose containment measures. Even countries with elevated vaccination rates have seen a big increase in new cases, though observers point out that hospitalisations and deaths are being kept down thanks to the jabs. The selling has also been blamed on other factors including lingering worries about possible central bank policy tightening as the economy recovers, profit-taking with markets sitting around record or multi-year highs, and investors jockeying as the corporate earnings season begins. ....