Monday, June 21, 2021

Asian stocks fall after reports of rise in inflation in China

Most Asian equity markets fell after reports of rise in inflation in China that could prompt authorities to act to cool the inflation. Hong Kong’s Hang Seng plunged 1.1 percent and China’s Shanghai Composite index declined 0.9 percent. South Korea’s KOSPI slipped 0.4 percent and Singapore’s Straits Times fell 0.1percent. On the other hand, Japan’s Nikkei-225 gained 0.2 percent.

European stocks were trading in a narrow range and on course for their longest weekly winning streak in more than a year as hopes of a rapid recovery in economic growth offset doubts over the euro zone’s COVID-19 vaccination programme. In intra-day trade, London’s FTSC-100 was almost flat while Germany’s DAX gained and France’s CAC, both added 0.3 percent

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