Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Global shares edge lower on new COVID-19 outbreaks in Asia

EconomyJun 29, 2021 07:47PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. A man wearing a face mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a novel coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. REUTERS/Aly Song/Files 2/2

(Updates with Asia futures, changes headline tag)

By Elizabeth Dilts Marshall

NEW YORK (Reuters) -Global shares edged lower on Tuesday, as new coronavirus outbreaks in Asia vied with strong U.S. and European consumer confidence, and investors speculated about whether the Federal Reserve would accelerate its timetable to end easy monetary policy.

The U.S. dollar rose to a one-week peak on safe-haven buying stoked by fears that the highly contagious Delta variant could derail a burgeoning economic recovery.

MSCI's all country world index, which tracks shares across 50 countries, shed 0.06%, as declines in Asian equities undercut new highs in U.S and European markets.

The Nasdaq closed at a record high, boosted by technology stocks and a government survey showing U.S. consumer confidence in June hit its highest level since the pandemic started.

European shares ended higher after data there showed economic sentiment hit a 21-year high in June. The pan-European STOXX 600 index closed 0.3% higher at 456.37 points.

Still, MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.55% lower, Japan's Nikkei lost 0.81%, and Chinese stocks lost 0.92%.

The Australian S&P/ASX 200 futures rose 0.46% in early trading, while Japan's Nikkei 225 futures fell 0.07%.

Investors are worried about the economic impact of the highly infectious Delta variant. Indonesia, Malaysia, Thailand and Australia are all battling outbreaks and tightening restrictions, and Spain and Portugal announced restrictions for unvaccinated British tourists.

"These are headwinds to risk assets performing well, but if we step back, we are still looking at equity indices that continue to hit all time highs," said Patrick Leary, chief market strategist and senior trader at Incapital.

Investors are also waiting for the U.S. jobs due out on Friday, the results of which could influence Fed policy.

Economists polled by Reuters are expecting a gain of 690,000 jobs for June, up from 559,000 in May.

On Monday, Richmond Federal Reserve President Thomas Barkin said the U.S. central bank has made "substantial further progress" toward its inflation goal in order to begin tapering asset purchases.

"A good number will speed up the debate about tapering asset purchases soon and raising rates sooner," Leary said.

Unofficially, the Dow Jones Industrial Average rose 20.24 points, or 0.06%, to 34,303.51, the S&P 500 gained 2.05 points, or 0.05%, to 4,292.66 and the Nasdaq Composite added 28.67 points, or 0.2%, to 14,529.17. (N)

The Nasdaq was boosted by Apple Inc (NASDAQ:AAPL), while the S&P was helped by Morgan Stanley (NYSE:MS)'s news late Monday that it would double its dividend.

Germany's DAX added 0.9%, after Adidas (OTC:ADDYY) lifted the German index with news of a share buy back plan.

The U.S. dollar rose to a one-week peak. The dollar index, which tracks the greenback versus a basket of six currencies, rose 0.2% to 92.077, with the euro down 0.19% to $1.19.

Sterling was last $1.3849, down 0.24%. The Australian dollar fell 0.71% versus the greenback at $0.751.

Oil prices rose as hopes for a demand recovery persisted despite new outbreaks of the Delta variant.

Brent crude futures settled up 8 cents, or 0.11%, and U.S. crude settled up 7 cents, or up 0.10%. [O/R]

Spot gold dropped 1.0% to $1,760.77 an ounce. U.S. gold futures fell 1.06% to $1,761.00 an ounce.[GOL/]

Yields for benchmark 10-year U.S. Treasuries were last up less than a basis point at 1.4816%. [US/]

Germany's 10-year bond yield was up 1 basis point at -0.173%.

Global shares edge lower on new COVID-19 outbreaks in Asia
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (21)
Whaling Trawler
Whaling Trawler Jun 30, 2021 12:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Don't look at me funny when I'm coughing. I smoke lots of weed😳🗣️
Eduff San
Eduff San Jun 30, 2021 12:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
No effect at all. Covid is end. Just look oil price chart, you will see there are no covid
Jozef Drozd
Jozef Drozd Jun 29, 2021 7:07PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
About 4,000 mutations of the corona virus are known, according to English scientists. One variant per day is enough for the next 11 years.
YouTube Account
YouTube Account Jun 29, 2021 4:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
2020: flu rebranded as covid; 2021: vacksine reactions rebranded as covid.
Jozef Drozd
Jozef Drozd Jun 29, 2021 4:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
100% right !
Ron Love
Ron Love Jun 29, 2021 3:31PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Good grief ppl are dopey. The Fed isnt raising interest rates until 2023, the only other way they could say it is writing it in stone.
Theo Ross
Theo Ross Jun 29, 2021 9:25AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Damn. Look at all these commenters. So smart people, giving their incredible and use full opinions. This comments section looks like a pub in some countryside from 20 years ago, with to much alcohol at 11am.
Anthony Cloud
Anthony Cloud Jun 29, 2021 7:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Vaccinated folks about to get wiped out
Dave Jones
Dave Jones Jun 29, 2021 3:33AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
but wasn't the vaccine meant to fix everything?
Michael Young
Michael Young Jun 29, 2021 3:32AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
covid 19 and now Delta variant = weapons of mass destruction = that make Elite global and illuminaty and they is Dajjal's minions, if you want to blame or who is the mastermind behind covid 19, they are (Global Elite) who are responsible, in order to create a new world order they are willing to sacrifice many innocent people
Cali Cartel
Cali Cartel Jun 29, 2021 3:32AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
That dislike was from satan minion
Michael Dell
Michael Dell Jun 29, 2021 2:51AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
These rubbish of fed doing tapering will have to continue for another 3 years as Fed isnt tapering anytime before 2024 so keep on hoping
David David
David9 Jun 29, 2021 1:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Watch... I bet anyone here, after the 4th, we will see a lot of spike up again...
David David
David9 Jun 29, 2021 1:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It is very ridiculous that these western nations does not know how to do containment. If they had followed China from the beginning, we would have this contained a long time ago. Now this will drag on and in, cause once places start to open up, we see spike back up...
Ron Raymond
Ron Raymond Jun 29, 2021 1:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Following China means we would of sent all foreigners away then burned most everyone known to have the virus initially, dead or alive. Little reporting of all the smoke over Wuhan for days, reported by our Airforce, initially back toward end of 2019. And the words of this. Article are laughable, most smart traders, especially those who have worked for various firms, you know who you are, know how manipulated the market is and the results make many articles laughable or just plain lies. I like to hang on to the truth.
Johnny Crash
Johnny Crash Jun 29, 2021 1:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This virus is really one of the most solid things China ever designed. Usually cheap plastic Chinese stuff breaks when you just look at it but this is the gift that keeps on giving
David David
David9 Jun 29, 2021 1:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Give examples of what breaks and cheap from China... today China only produces advanced products...
emad hijazi
emad hijazi Jun 29, 2021 1:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
apple and iPhone r some of the plastic things manufactured in China ?!!
simone scelsa
simone scelsa Jun 29, 2021 1:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
And the US only produces debt and prints dollars
Lars Hellman
LarsH Jun 29, 2021 1:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Chinese products is you get what you pay for. Cheap price, cheap quality, high price good quality. When purchasing wholesale in China you specify how many years the product should last.
Ben Chod
Ben Chod Jun 29, 2021 1:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
US created the virus ti boost money printing
Eduff San
Eduff San Jun 29, 2021 1:36AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ok correction done. V shape shown. 74 confirmed
Chris Hall
Chris Hall Jun 29, 2021 12:53AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Welcome To The United States Of Zombie Land
Michael Chen
Michael Chen Jun 29, 2021 12:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Taiwan is poor! Need donation of vaccines.
Michael Chen
Michael Chen Jun 29, 2021 12:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Only poor countries will continue to suffer from pandemic because lack of vaccines available.
Pablo Blanc
Pablo Blanc Jun 29, 2021 12:09AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Dingleberry virus shutting down economies world wide
Leon Kelly
Leon Kelly Jun 28, 2021 11:35PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
let's see if Democratic GOV threaten lockdown under Joe
Jody Darden
Jody Darden Jun 28, 2021 11:35PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
After the 4th possibly
mat connors
mat connors Jun 28, 2021 11:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Delta variant: hust another easy to scare those who believe the vaccine works. It doesnt i know several peoole now who contracted the virus after they gotten the shot.
Show previous replies (2)
Andrew Drummond
Andrew Drummond Jun 28, 2021 11:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Believing everything is a conspiracy against you seems like a stressful way to live life.
John Brooks
John Brooks Jun 28, 2021 11:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
wrong, you have a 500x more chance of dieing if "vaccinated " with the synthetic RNA disease causing spike protein by the so called "delta" variant, it's a scam to push more death.
John Brooks
John Brooks Jun 28, 2021 11:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
knowing humanity is under serious attack and will be sterilized by 2030 is enlightening.
Benjamin McIntire
Benjamin McIntire Jun 28, 2021 11:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
IceIce Baby
IceIceBaby Jun 28, 2021 11:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
John Brooks  :) What a sci-fi.
andy boy
andyboy Jun 28, 2021 11:03PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The gift from China that that keep on giving
David David
David9 Jun 28, 2021 11:03PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It ain't over yet... as more clues come in, it has become highly that the virus started outside of China...
John Mage
John Mage Jun 28, 2021 11:03PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Get a clue. That virus came out of a lab.
David David
David9 Jun 28, 2021 11:03PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
John Mage Which lab? Fort Detract lab or the other US Bio labs...
divad mocihc
9divaD Jun 28, 2021 11:03PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wong again, please stop! This is not chicompropapanda.com, it is https://investing.com, you are contaminating site. Man of 30yrs+, living in the USA, shilling for Ch!Coms. I told you guys, sad existence.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email