HSI Falls, Pandemic Worries Weigh Down Asian Markets

Stocks finished the Wednesday morning session in the red as investors struggled to track another record on Wall Street, with concerns about virus flare-ups weighing on sentiment.

The Hang Seng Index eased 0.2 percent, to 25,432.

On the mainland, the Shanghai Composite Index fell 1.1 percent, to 3,337, while the Shenzhen Composite Index fell 1.6 percent, to 2,245.

Tokyo finished the morning down 0.2 percent, Sydney and Singapore shed 1 percent and Seoul slipped 0.3 percent. Wellington, Jakarta and Manila were also down. Taipei gained 0.3 percent.

Investors were weighed down by ongoing worries about the economic impact of coronavirus and fresh outbreaks in some countries.

"The situation is still far better than it was in the spring with more asymptomatic cases and much broader testing," said AxiCorp's Stephen Innes.

"However, recent momentum and outbreaks around the world are worrying, as second and third-wave coronavirus outbreaks still pose the most significant threat to the economic recovery."

But he added tech firms would likely continue to be well supported as people work, study and shop from home as fresh containment measures are imposed. (AFP)

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