A sell-off in global equities continued in Asia early Tuesday as the spread of the delta coronavirus variant stirs concerns about the resilience of the economic recovery and strengthens safe-haven assets.
Shares fell in Japan, Australia and South Korea, but declines were ordered. US contracts edged up after the S&P 500 fell the most in two months following a reopening trade reversal as cyclicals like energy and financials slipped.
The Singapore-traded SGX Nifty Index, an early indicator of the performance of the Indian Nifty 50 Index, fell 0.16% to 15,717 at 6:55 a.m.
Long-term Treasury rates rose, after hitting their lowest level since February on Monday and flattening the yield curve. Ten-year rates rose above 1.2%. The dollar maintained gains while the yen stabilized.
Oil has stabilized after sinking on an OPEC + deal to increase supply until 2022. Bitcoin traded just above the closely watched $ 30,000 level.
Geopolitical nervousness also resurfaced on Monday after the US, UK and their allies said the Chinese government was the mastermind behind a series of malicious ransomware, data theft and cyber-espionage attacks. against public and private entities, including the sprawling Microsoft Exchange hack. earlier this year.