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BEIJING (Reuters) – Asian stock markets followed Wall Street lower on Tuesday, as nervousness over the rapid spread of the delta variant of the coronavirus dampened enthusiasm over strong corporate earnings.
Investors have been eagerly awaiting US employment data due this week for signs of the health of the world’s largest economy.
The Shanghai SHCOMP Composite Index,
was pretty much flat and the Nikkei 225 NIK,
in Tokyo fell 0.8%. The Hang Seng HSI,
in Hong Kong fell 0.8%.
The Kospi 180721,
in South Korea gained 0.2% and the S & P / ASX 200 XJO in Sydney,
was 0.1% lower. Shares slipped in Singapore STI,
and Taiwan Y9999,
but won in Indonesia JAKIDX,
Wall Street’s benchmark S&P 500 closed lower, weighed down by declines in technology, energy, industrials and communications stocks.
Investors have been encouraged by surprisingly high profits in the United States, but are more concerned as China, the United States and other governments try to stop the spread of the more contagious delta variant.
“It is clear that the risks of the delta variant of COVID have not been eliminated,” Mizuho Bank said in a report.
Investors have been eagerly awaiting US employment data due to be released on Friday to see if hiring has held up.
The S&P 500 SPX,
slipped 0.2% to 4,387.16. The index is posting a weekly loss but is less than 0.8% of its record a week ago.
The Dow Jones Industrial Average DJIA,
fell 0.3% to 34,838.16. The Nasdaq composite COMP,
added 0.1% to 14,681.07.
A fall in technology, industrial, raw materials and communications companies weighed on the market. Energy stocks also fell along with crude oil prices. Gains in stocks in health care, utilities, and various retailers and other businesses that rely on direct consumer spending helped contain the losses.
Also this week, some 150 S&P 500 companies are due to release their results.
On the energy markets, the American benchmark CLU21 crude,
lost 1 cent to $ 71.25 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, the contract fell from $ 2.69 to $ 71.26. Brent crude BRNV21,
the basis of international oil prices, lost 3 cents to $ 72.86 a barrel in London. It fell from $ 2.52 the previous session to $ 72.89 a barrel.
The dollar USDJPY,
fell to 109.22 yen from 109.25 yen on Monday.
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