Asian markets mostly up but China, Delta fears temper optimismAsian markets mostly rose Monday but investor optimism over the global recovery was being kept in check by worries over the spread of the Delta Covid variant as well as China's regulatory crackdown. However, observers said the rally that world markets have enjoyed for much of the past year was sputtering as investors grow increasingly concerned about spiking inflation that many have warned could force central banks to taper their ultra-loose monetary policies. Added to that is the slow vaccination programmes in some countries and rapid spread of the Delta variant that has led to the reimposition of lockdowns and other containment measures. In early trade, Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei and Manila rose but Singapore and Jakarta fell. Nervous traders are keeping tabs on China after authorities last week embarked on a crackdown on the country's private tuition firms as well as the tech and property sectors.

Source: News 24 August 02, 2021 07:59 UTC