Thursday, May 26, 2022

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Asian markets mixed as spread of Delta variant heightened worries about its economic recovery

Most key indices at other Asian markets were mixed as the spread of the Delta variant of the coronavirus across the region heightened worries about its economic recovery. So China’s Shanghai Composite dipped 0.2%.

China reported 124 confirmed cases yesterday, its highest daily count for new coronavirus cases in the current outbreak, fuelled by a surge in locally transmitted infections. Hong Kong’s Hang Seng index declined 0.1 percent and South Korea’s Kospi index fell 0.2 percent. But Japan’s Nikkei-225 index gained 0.3% and Singapore’s Straits Times index was up 0.2%.

In Europe, London’s FTSE-100 was flat; France’s CAC-40 was up 0.1 percent and Germany’s DAX had gained 0.2 percent, in intra-day trade. Data showed German industrial output unexpectedly fell again in June, suggesting a slowing recovery, held back by supply bottlenecks for intermediate goods.

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