HONG KONG: Asian stocks were mixed on Monday morning, as the resurgence of the Delta coronavirus variant continued to weigh on economies globally, including in China where new data showed activity slowed more than expected in July. Raymond Yeung, chief economist for Greater China at ANZ Banking Group, said the figures "suggest the economy is losing steam very fast". Surging infections linked to the delta variant of the coronavirus "also adds extra risk to August's activities," he added. Iris Pang, ING's chief economist for Greater China, told AFP industrial output was weak "because of the semiconductor chip shortage that has affected production". AFP PHOTO'Potential tapering'The University of Michigan reported Friday that US consumer sentiment plunged to its lowest level in a decade, as coronavirus infections continue to surge there.

Source: Manila Times August 16, 2021 03:22 UTC