September 24, 2021

Asia stocks fragile amid growth worries, dollar in demand

  • Asian stock markets :
  • Nikkei bounces after suffering steep losses last week
  • Flash PMIs to show impact of Delta on manufacturing
  • Dollar holds near 10-mth highs, awaits Powell take on tapering
  • Oil prices find support after worse week in 9 months

SYDNEY, Aug 23 (Reuters) – Asian share markets were trying to pick up the pieces on Monday following last week’s thrashing as coronavirus concerns showed little sign of abating, while safe-haven flows benefited the dollar ahead of a key update on U.S. monetary policy.

A raft of “flash” manufacturing surveys for August out on Monday will offer an early indication of how global growth is faring in the face of the Delta variant, with analysts expecting some slippage and especially in Asia.

Concerns over China’s economy have only intensified in recent weeks, while Beijing’s regulatory crackdown on the tech sector delivered a…

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