Asia stocks slip as China’s economy stumbles
Asian shares slid on Monday after a raft of Chinese data showed a surprisingly sharp slowdown in the engine of global growth, just as much of the world races to stem the spread of the Delta variant of COVID-19 with vaccinations.
Marketmind: Muddied Waters
Investors can be forgiven for being nonplussed on the data front this week. A day after U.S. consumer inflation data showed early signs of price pressures peaking, readings from the producer perspective showed inflationary readings remained firm.
Malaysia c.bank slashes 2021 growth outlook on COVID-19 surge, lockdowns
Malaysia’s economy expanded more quickly than expected on an annual basis in the second quarter, but the central bank slashed its 2021 growth forecast as rising COVID-19 cases and new lockdown measures weighed on the outlook.
OPEC+ supply boost unlikely despite call from U.S. for more oil, says Goldman
U.S. investment bank Goldman Sachs said a recent call by the United States to OPEC+ to boost oil output is unlikely to result in higher production over the short-term given the threat to demand from the coronavirus Delta variant.
Airbnb warns of Delta impact on bookings, shares fall over 4%
Airbnb Inc (ABNB.O) said on Thursday its current-quarter bookings could be hit by the Delta variant of the coronavirus and a slowing pace of vaccination in the United States, sending its shares down more than 4%.
Oil dips as Delta variant weighs on demand forecasts
The Brent benchmark oil price fell for a second day on Friday, albeit holding above $70 a barrel, after the International Energy Agency warned that demand growth for crude is slowing sharply owing to the spread of coronavirus variants.
Dollar holds firm near 4-month high on Fed tapering bets
The dollar held firm on Friday, staying near its highest level in four months against a basket of currencies as investors looked for more hints from the Federal Reserve on its plans to reduce monetary stimulus.
Fund managers position for transitory U.S. inflation
Based on expectations that U.S. inflation will be transitory and that the Federal Reserve will clearly communicate its plans to taper asset purchases, major global fund managers say they remain invested in risky assets.
Asian shares fall as Delta fears eclipse Wall Street uptick
Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame U.S. inflation eased fears the Federal Reserve would rush to reduce its economic support.
Oil prices drop as IEA warns of slowdown in demand recovery
Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.
