Asian shares slip amidst pandemic, Afghan worries

Analysts said the relatively slow vaccination stirs in Asia are declining the investor sentiments.

Asian share market was flat on Monday, amidst worries about re-emergence of Covid-19 infections in the region, as well as worries about the long-term impact from the Afghan government's collapse.

 

Japan's benchmark Nikkei 225 sinked 1.9 per cent to 27,441 in morning trades, while Australia's S&P/ASX 200 down with h 0.4 per cent to 7,594.

 

Hong Kong's Hang Seng aslo decline 0.6 per cent to 26,237, while the Shanghai Composite also added 0.4 per cent to 3,530. And, the share markets in South Korea were closed for Liberation Day which is a national holiday.

 

Analysts said the relatively slow vaccination stirs in Asia are declining the investor sentiments. Thailand, Malaysia and Japan are among those nations that are reporting several high record in new daily cases of COVID-19 infections and also several nations have seen a rise in outpace or otherwise obstruct their vaccination stirs.

 

According to the analysts, the Taliban expansion into Afghanistan's capital, Kabul may feel like a faraway event, but will undoubtedly affect markets globally including Asia.

 

The government of Japan had reported the economical growth at an annual rate of 1.3 per cent in April-June, which had raises hopes for a gradual recovery from the economical damage brought on by the Covid-19 pandemic.

 

Some of the analysts had expected a decline and highlighted the growth were improved private consumption and residential investment as well as a increase in exports and imports.

 

Wall Street finished out last week with small gains and fresh new highs for the S&P 500 and Dow Jones Industrial Average.

 

The S&P 500 benchmark rose to 0.2 percent and carve its second straight weekly high and stocks were nearly evenly split between winners and losers.

 

The sudden bad drop in the survey's reading was almost entirely due to the spread of the delta variant of the SARS-CoV-2, which has caused hospitals to fill up with unvaccinated patients across the United States.

 

In energy trading, benchmark US crude down to 80 cents to USD 67 a barrel. Brent crude, the international standard, also lost 80 cents to USD 69 a barrel.

India Scanner News Network

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