Asian shares wavered Friday as the spread of the delta Covid-19 variant and China’s regulatory curbs restrained sentiment despite another record high close on Wall Street.
Stocks fluctuated in Japan but slid in South Korea as virus cases climb and chip-sector prospects deteriorate. U.S. contracts were steady after the S&P 500 hit a fresh peak and the tech-heavy Nasdaq 100 rose.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.24% to 16,339.50 as of 7:05 a.m.
U.S. Treasury 10-year yields were near a one-month high amid a tepid 30-year auction and data highlighting price pressures and a labor market recovery. A gauge of the dollar advanced.
The focus in China remains on Beijing’s push to exert more control over a range of industries. In real estate, the nation is suspending private equity funds from raising money to invest in residential property development. Separately, a partial shutdown of a major Chinese port due to a virus outbreak stoked concerns about a repeat of last year’s pandemic shipping woes.
Oil dipped as traders grappled with the impact of the delta variant on demand. In agricultural commodities, a prospective squeeze on global grain supplies is reigniting a rally in crop prices. Bitcoin was around $44,600.
Data To Watch
08/13-08/15: India July trade balance, est. -$11.2 billion, prior -$9.37 billion
India July exports YoY, no est., prior 48.3%
India July imports YoY, no est., prior 98.3%