Ebene Magazine – Markets: Asian stocks erase 2021 gains on concern over inflation, virus en

0
12

Indian markets are closed today. Asian stocks extended losses on Thursday as inflation fears routed Wall Street equities.

Asian stocks dropped, with the regional benchmark erasing its gains for the year, as mounting worries over inflation and a resurgence in Covid-19 cases soured investor sentiment.

The MSCI Asia Pacific Index slid as much as 1%, tracking losses in American shares after data on Wednesday showed U.S. consumer prices climbed in April by the most since 2009. The Asian gauge has now fallen more than 9% from a Feb. 17 peak.

An explosive rally in commodity prices has come at a time when Asia’s tech stocks, much like their global peers, are contending with higher U.S. bond yields and stretched valuations, and regulatory tightening in China has also added to the sector’s woes. Regional stocks have also been set back by a surge in infections in several countries including India, Japan and parts of Southeast Asia.

“We need to kind of price in a more normal interest-rate environment, more normal inflation environment, » said Ken Peng, head of Asia investment strategy at Citigroup Inc.’s private-banking arm. “The shake up could last a while longer. But I’m still not too worried because, growth will comeback to be the most important element once interest rates normalize. »

In Taiwan, the benchmark stock index extended losses after slumping the most since March last year on Wednesday partly due to concern over tightening of virus-linked restrictions.

Japanese shares declined for a third day on Thursday, while stocks in China snapped a two-day winning run. Markets in Singapore, India, Indonesia, Malaysia and the Philippines were shut for a holiday.

Wall Street equities ended lower on Wednesday after after a report showed inflation rose more than forecast, adding to concern that price pressures will stifle a recovery in the world’s biggest economy.

The Dow Jones Industrial Average shed 2%, the S&P 500 dropped 2.1%, and the Nasdaq Composite lost 2.7%.

Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.

Related title:
Asian Stocks Erase 2021 Gains on Concern Over Inflation, Virus
Markets: Asian stocks erase 2021 gains on concern over inflation, virus
Asia markets sink as Wall Street dives on rate hike fears; investors wait for Alibaba results
Hong Kong stocks slide to seven-week low as faster US inflation heightens taper tantrum, slams Asian markets
Asian Stocks Erase Year-to-Date Gains on Virus Woes, Tech Rout
Renewed Selling Pressure Anticipated For Hong Kong Shares

en

Ref: https://www.livemint.com

QU’EN PENSEZ-VOUS?

[comment]

PUB

Laisser un commentaire, votre avis compte!

[gs-fb-comments] [comment-form]

Laisser un commentaire, votre avis compte!