Asian shares slipped Wednesday as fears about the spread of the coronavirus dampened a positive lead from a record close on Wall Street.
European stocks were expected to fare better, with Euro Stoxx futures flat and Britain’s FTSE futures trading 0.1% higher in early trade.
MSCI’s broadest index of Asia-Pacific shares sans Japan lost 0.4%, with SKorea falling 0.6% and Taiwan shedding 0.9%.
“What’s clearly separating Asian shares from Wall Street is the difference in vaccination. Low vaccination rates in Asia are proving to be fatal to deal with the Delta variant,” says the Chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
The Delta variant of the new coronavirus is spreading in many Asian countries, raising fears about local restrictions on travel and other activity hurting the economic recovery.
Chinese blue-chips were down 0.3% but Australia gained 0.2%, helped by the announcement of a record share buyback by country’s largest bank, Commonwealth Bank of Australia, with its annual results.
Have a prosperous day, Keep the Faith!