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Nov. 26, 2021, 12:35 a.m. EST

Asian markets sink as investors weigh latest global virus concerns

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Associated Press

BEIJING (AP) — Asian stock markets sank Friday after some European countries tightened curbs on travel and business following a surge in coronavirus infections and South Africa reported a new variant.

Don’t miss: South African scientists detect new coronavirus variant amid spike in cases

Shanghai, Tokyo, Hong Kong and Sydney declined. U.S. markets were closed Thursday for the Thanksgiving holiday.

Austria imposed a nationwide 10-day lockdown after its daily virus deaths tripled, while Italy imposed curbs on activity by unvaccinated people. The U.S. government advised Americans to avoid travel to Germany and Denmark . Scientists in South Africa said a new variant was spreading among young people in its most populous province.

“Investors are likely to shoot first and ask questions later until more is known,” Jeffrey Halley of Oanda said in a report.

See: Germany becomes fifth European country to pass 100,000 deaths from COVID-19

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -1.78% lost 0.6% to 3,560.15 and the Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -3.11% /zigman2/quotes/210213595/delayed NIY00 -1.41% in Tokyo plunged by an unusually wide 2.8% margin to 28,656.17. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -1.99% in Hong Kong tumbled 2.3% to 24,161.55.

The Kospi /zigman2/quotes/210598069/delayed KR:180721 -3.50% in Seoul lost 1.4% to 2,938.09 and Sydney’s S&P-ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.77% fell 1.7% to 7,279. New Zealand and Southeast Asian markets also declined.

Wall Street’s benchmark S&P 500 /zigman2/quotes/210599714/realtime SPX -0.41% closed up 0.2% on Wednesday. U.S. markets are due to reopen Friday for a shortened post-Thanksgiving trading session .

Investors are more cautious after Federal Reserve officials indicated in notes from their October meeting released this week that they foresaw the possibility of responding to higher inflation by raising rates sooner than previously planned.

Financial markets had been encouraged by strong U.S. corporate earnings and signs the global economy was rebounding from last year’s history-making decline in activity due to the pandemic. Stock prices have been boosted by easy credit and other measures rolled out by the Fed and other central banks.

Investors worry central bankers might feel pressure to withdraw stimulus earlier than planned due to stronger-than-expected inflation. The Fed said earlier it foresaw keeping rates low until late next year.

In energy markets, benchmark U.S. crude /zigman2/quotes/209723049/delayed CL00 -0.81% fell 3% to $76.71 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude , the price basis for international oils, shed 2.2% to $79.09 per barrel in London.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.5939% fell 0.5% to 114.67 yen from Thursday’s 115.36 yen. The euro /zigman2/quotes/210562001/realtime/sampled USDEUR +0.8893% advanced 0.1% to $1.1226 from $1.1221.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,394.25
-61.42 -1.78%
Volume: 28.06B
Jan. 27, 2022 3:00p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
26,170.30
-841.03 -3.11%
Volume: 0.00
Jan. 27, 2022 3:15p
loading...
/zigman2/quotes/210213595/delayed
US : U.S.: CME
¥ 26,540.00
-380.00 -1.41%
Volume: 67,925
Jan. 27, 2022 2:40p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,807.00
-482.90 -1.99%
Volume: 1.85M
Jan. 27, 2022 4:09p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,614.49
-94.75 -3.50%
Volume: 487,726
Jan. 27, 2022 3:33p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,838.30
-123.30 -1.77%
Volume: 3,467
Jan. 28, 2022 7:06a
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,332.06
-17.87 -0.41%
Volume: 2.53B
Jan. 27, 2022 3:50p
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 86.64
-0.71 -0.81%
Volume: 399,315
Jan. 27, 2022 3:40p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
115.3560
+0.6810 +0.5939%
Volume: 0.0000
Jan. 27, 2022 3:50p
loading...
/zigman2/quotes/210562001/realtime/sampled
US : Tullett Prebon
0.8975
+0.0079 +0.8893%
Volume: 0.0000
Jan. 27, 2022 3:50p
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