Asia-Pacific trades lower as COVID cases rise

Wednesday, 28. July 2021 07:21

Major stock markets in the Asia-Pacific region traded lower on Wednesday, with investors fearful of the effect a new wave of the coronavirus pandemic will have on the economy. Daily cases in South Korea reached a new daily record, while cases in India are back above 40,000. At the same time, cases continued to rise in Sydney, prompting another extension of the imposed lockdown. Meanwhile, the Bank of Japan noted that the country's economy is still in a severe state as a result of the pandemic.

The Nikkei 225 dropped 1.68% at 7:18 am CET, while the dollar stood flat against the yen trading for ¥109.7815 at the same time. South Korea's Kospi Composite and Australia's S&P/ASX 200 both saw respective declines of 0.53% and 0.71% at 7:19 am CET.

In mainland China, the Shenzhen Composite fell 0.13% at 7:20 am CET, while the Shanghai Composite concurrently lost 0.48%. Over in Hong Kong, the Hang Seng couldn't recover from yesterday's fall, trading 0.68% lower at 7:21 am CET.

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