Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Asian Stocks Down, ‘Tired’ Market Wrestles With COVID-19, Fed Taper Concerns

Stock MarketsAug 19, 2021 10:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mostly down on Friday morning, with concerns about the spread of COVID-19's Delta strain and the possibility of earlier-than-expected central bank asset tapering continuing to dim the economic outlook.

Japan’s Nikkei 225 was down 0.80% by 9:49 PM ET (1:49 AM GMT) and South Korea’s KOSPI fell 0.93%.

In Australia, the ASX 200 edged up 0.14%.

Hong Kong’s Hang Seng Index slid 1.30%, with China's National People’s Congress Standing Committee expected to approve an anti-sanction law for the city later in the day.

China’s Shanghai Composite fell 1% while the Shenzhen Component was up 0.23%. The People’s Bank of China (PBOC) released its latest one-year loan prime rate (LPR), which remained unchanged at 3.85%, and the five-year LPR, at 4.65%, earlier in the day.

PBOC and the China Banking and Insurance Regulatory Commission also released a joint statement on Thursday urging China Evergrande Group (HK:3333) to resolve its debt problems.

Chinese stocks listed in the U.S. continued their fall, with Tencent Holdings (OTC:TCEHY) Ltd. (HK:0700) and Alibaba Group Holding Ltd. (HK:9988) shares tumbling more than 6%, as Chinese authorities continue to tighten private industry regulations.

Investors also continue to monitor the U.S. Federal Reserve’s next steps towards asset tapering and interest rate hikes, with the minutes from the latest Fed meeting hinting that the former could start as soon as 2021. More clues are expected to be given at the Fed’s Jackson Hole symposium, due to take place from Aug. 26. to 28.

Meanwhile, the global spread of COVID-19's Delta strain shows no sign of slowing down, with U.S. hospitals recording the highest death rates since February 2021.

“The Delta variant of COVID-19 is significantly more serious than anyone is really even pricing into the market,” Kramer Capital Research chief investment officer Hilary Kramer told Bloomberg.

“We know that tapering is coming. We know that the market is getting tired,” she added.

The combination of COVID-19 concerns and Fed concerns put global shares on track for one of the worst weeks in 2021 to date. Investors are also monitoring options expirations later in the day that could fuel volatility.

Asian Stocks Down, ‘Tired’ Market Wrestles With COVID-19, Fed Taper Concerns
 

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 (2)
Tyrone Jackson
Tyrone Jackson Aug 19, 2021 10:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Fed has loaded up on Puts. They will tank the markets and clean up. Jackson Hole next week will be the turning point. Covid plus taper equals a huge sell off
YouTube Account
YouTube Account Aug 19, 2021 10:12PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ah, fear has given way to concern. And exhaustion. Got it.
 
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