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Asian stocks fell broadly on Friday on concerns that the spread of the Delta variant of COVID-19 across the world and low vaccination rates could pose a threat to the global recovery.<\/p>\n
Chinese shares ended marginally lower as a major U.S. shares index removed more Chinese companies after an updated U.S. executive order barring domestic investment in firms with alleged ties to China’s military.<\/p>\n
Meanwhile, Hong Kong’s Hang Seng index climbed 191.41 points, or 0.7 percent, to 27,344.54 after briefly dipping into bear market territory.<\/p>\n
Japanese shares extended losses for a third day amid concerns that a state of emergency to contain a fresh wave of COVID-19 infections will slow the economic recovery.<\/p>\n
The Nikkei 225 Index dropped 177.61 points, or 0.6 percent, to finish at 27,940.42, while the broader Topix closed 0.4 percent lower at 1,912.38.<\/p>\n
Seven & I Holdings, Kawasaki Kisen Kaisha, Chugai Pharma, Suuki Motor, Sumitomo Realty, Fanuc and Daikin Industries fell 2-3 percent, while J Front Retailing, Eisai and Hitachi Zosen all rose over 2 percent. Heavyweight SoftBank Group recouped some early losses to end 0.7 percent lower.<\/p>\n
Australian markets<\/span> fell sharply after two straight sessions of gains, as Sydney battled its worst Covid outbreak of this year. The benchmark S&P\/ASX 200 Index dropped 68.10 points, or 0.9 percent, to 7,273.30, while the broader All Ordinaries Index ended down 69.60 points, or 0.9 percent, at 7,545.30.<\/p>\n Tech stocks led losses, with Appen, Wisetech Global and Afterpay losing 3-5 percent. Mining heavyweights BHP and Rio Tinto ended down around half a percent as iron ore prices fell on demand worries.<\/p>\n Seoul stocks fell for the third straight session after the government said it would impose the strictest Level 4 restrictions in greater Seoul for two weeks to curb a new wave of coronavirus<\/span> infections. The Kospi slumped 34.73 points, or 1.1 percent, to settle at 3,217.95.<\/p>\n The country added 1,316 new daily cases of COVID-19 today, marking the highest number since the first confirmed virus case on January 20, 2020. LG Chem lost 3 percent and Hyundai Motor declined 1.5 percent, while SK Telecom advanced 1.6 percent.<\/p>\n New Zealand shares fell, with the benchmark NZX 50 Index settling 0.5 percent lower at 12,690.35 as the COVID-19 delta variant continued to spread even in countries with high vaccination rates, such as Israel and the United Kingdom.<\/p>\n U.S. stocks ended firmly in negative territory overnight and Treasury yields sank for a fourth day, as worries about the rapid spread of the Delta variant of the coronavirus and disappointing jobless claims data added to concerns about the economic outlook. <\/p>\n The Dow shed 0.8 percent, the tech-heavy Nasdaq Composite fell 0.7 percent and the S&P 500 gave up 0.9 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n