Asian stocks slip as new COVID cases increase

Asian stocks stumbled on Wednesday, leaving early gains and investors worried that the fast-spreading coronavirus variant could hamper global economic recovery as the dollar remained stable.

But European stock markets were set to open slightly higher following a sharp fall earlier in the week, ahead of a European Central Bank meeting on Thursday, which is expected to emit a bad tone.

Euro Stocks 50 futures rose 0.16% and German Dox futures rose 0.07%. FTSE futures added 0.08%.

The Delta Coronavirus variant has turned inflation into a major concern for investors, with South Korea on Wednesday setting a daily record for new epidemics.

Last week, in June, the U.S. Data on rising consumer prices have raised fears that the Federal Reserve may put an end to emergency stimulus measures.

The shift from the debate over whether price hikes are mediocre to fears of the impact of the recent COVID-19 uprising has pushed US investors’ 10-year yields down more than 20 basis points in less than a week. Assets. The S&P 500 fell 4% from last Wednesday’s high on Monday.

Seoul’s Kospi fell 0.29% and Hong Kong’s Hang Seng index fell 0.46%.

Japan’s Nikkei was up 0.6% as investors bought rotating shares ahead of a long weekend marking the start of the Tokyo 2020 Olympics, boosting confidence in exports in June. Led to economic recovery.

Chinese blue-chip stocks also rose 0.81%

Kay Van-Peterson, the global macro strategist at Saxo Capital Markets in Singapore, says, “The level of volumes, the amount of price action whipped up from time to time, tells you one way or another.”

But despite the fact that the peak of global growth has passed, easing central bank policies continue to provide strong support for global property prices.

“The balance sheets of the G4 central banks have been increasing by 15% since 2008. In my opinion, it is not going to stop. It is not going to stop.”

U.S. Treasury prices fell, and 10-year yields rose 1.2151% from 1.209% the previous day. The 2-year yield was 0.2037%, up from 0.194%.

But the dollar was nearing a three-month high on Wednesday, echoing concerns in stock markets as global COVID-19 infections increased.

“Vaccine rates limit the severity of symptoms of new phenomena, preventing some rising infections in the world, and some parts of the world may completely ignore this,” said Rob Cornell, chief economist at ING Asia-Pacific.

The dollar index was last up 0.08% at 93.041 and the euro was down 0.07% at 17 1.1771. The dollar was up 0.05% at 109.89 against the yen.

Oil prices began to fall again after rising again on Tuesday, an industry report said. Showed that oil was formed unexpectedly in cargo.

U.S. West Texas Intermediate crude traded down 0.46% at $ 66.89 a barrel, while Brent traded down 0.42% at $ 69.06 a barrel.

U.S. Spot gold fell 0.07% to 80,808.84 an ounce as yields rose again.

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