Asian shares fall as Delta fears eclipse Wall Street uptick
HONG KONG, Aug 12 (Reuters) – Asian shares retreated on Thursday as worries about Chinese regulatory changes and the spread of the Delta variant of the coronavirus weighed on sentiment despite tame U.S. inflation easing fears the Federal Reserve would rush to reduce support.
Those consumer price inflation figures also caused the dollar to retreat against most major currencies and U.S. Treasury yields to edge down overnight, though both were steadier in Asian hours.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.51% in early trading, dragged by a 0.79% decline in Chinese bluechips (.CSI300) and a 0.54% fall in the Hong Kong benchmark (.HSI) as weaker-than-expected lending data on the mainland triggered liquidity concerns.
Among the biggest decliners was Chinese online insurer ZhongAn (6060.HK) which fell 13.47% after state media said China’s banking…