Asian stocks on backfoot as concern over Delta variant saps confidence | Malay Mail

SYDNEY, Aug 10 — Asian stocks started off on a weak footing today after a largely soft performance on Wall Street and as persistent concerns over the spread of the Delta variant of the coronavirus dented sentiment and triggered falls in metals and oil prices.

Japan’s Nikkei was UP 0.9 per cent while Australia’s benchmark S&P/ASX200 was 0.2 per cent higher on the back of strong earnings results. Gold stabilised after falling to a more than four-month low yesterday as strong US jobs data bolstered expectations for an early tapering of the Federal Reserve’s economic support measures.The strong jobs data lifted US Treasury yields. Benchmark 10-year notes were last yielding 1.3237 per cent, up from 1.3170 per cent yesterday.

US stock indexes were mostly soft, with the Dow Jones Industrial Average down 0.3 per cent, the S&P 500 off 0.09 per cent while the Nasdaq Composite added 0.16 per cent. MSCI’s gauge of stocks across the globe were 0.03 per cent lower.

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