Asia report: Most markets fall on fresh Covid-19 outbreak fears
By Josh White
Date: Tuesday 29 Jun 2021
(Sharecast News) - Markets in the Asia-Pacific region closed mostly in negative territory on Tuesday, led lower by bourses in China and Japan, even after a record session for Wall Street equities overnight.
In Japan, the Nikkei 225 was down 0.81% at 28,812.61, as the yen strengthened 0.02% against the dollar to last trade at JPY 110.61.
Of the major components on the benchmark index, robotics specialist Fanuc was down 0.09%, Uniqlo owner Fast Retailing lost 1.2%, and technology giant SoftBank Group slid 2.15%.
The broader Topix index was off 0.82% by the end of trading in Tokyo, settling at 1,949.48.
On the mainland, the Shanghai Composite lost 0.92% to 3,573.18, and the smaller, technology-centric Shenzhen Composite fell 0.91% to 2,441.26.
South Korea's Kospi slipped 0.46% to 3,286.68, while the Hang Seng Index in Hong Kong was 0.94% lower at 28,994,10.
Seoul's blue-chip technology stocks were in the red, with Samsung Electronics down 1.1% and SK Hynix losing 0.79%.
The moves lower in Asia came despite a stellar session in New York overnight, which saw the S&P 500 and the Nasdaq Composite both reach new record highs by the closing bell.
It wasn't as rosy across the board, however, with the Dow Jones Industrial Average closing 0.44% weaker.
"US markets saw an all time high for S&P and the Nasdaq, fuelled by tech stocks, as investors expect a robust earnings season," said analysts at Numis.
"Asian markets dipped over fears Covid-19 outbreaks could undermine the economic recovery," they added.
Oil prices were lower as the region went to bed, with Brent crude last down 0.59% at $74.24 per barrel, and West Texas Intermediate losing 0.82% to $72.31.
In Australia, the S&P/ASX 200 closed just below the waterline, losing 0.08% to 7,301.20, as a fresh wave of Covid-19 continued to emerge across the southern continent.
Parts of Queensland were now under lockdown, with both the urban south-east of the state and Townsville in the north placed under restrictions as it was revealed a new case in the state was the highly-infectious 'Delta' variant.
New South Wales, meanwhile, announced more exposure locations, after it extended its latest lockdown around Sydney for two weeks on Monday.
Australian authorities have been forced to react hard and fast to the latest outbreak, as the country's vaccination programme has lagged well behind other developed nations.
Across the Tasman Sea, New Zealand's S&P/NZX 50 was the region's odd one out, managing gains of 0.29% to 12,639.82.
Partial Covid-19 restrictions in the country's capital Wellington are set to be relaxed at midnight local time (1300 BST), as no new infections were found seven days after the discovery of a potential 'Delta' variant exposure from an Australian traveller.
Travel between New Zealand and Australia remains restricted, however, as the variant spreads in the latter country.
Both of the down under dollars were weaker against the greenback, with the Aussie last off 0.5% at AUD 1.3281, and the Kiwi retreating 0.58% to NZD 1.4284.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN