Picture used for illustrative purpose. File
Asian markets mostly fell Monday with sentiment depressed by a spike in coronavirus infections that has forced fresh lockdowns and sparked worries about the impact on the world economy.
Japan's Nikkei 225 rose more than two percent as investors picked up cheap stocks following a steep drop last week, while there was also some cheer in data showing the country's economy contracted less than first thought in January-March.
Shanghai put on 1.8 percent following a forecast-beating reading on factory activity from Caixin, days after a strong official report showed improvement in the manufacturing sector. Seoul edged up slightly.
A lack of substantial progress by US lawmakers on a new stimulus package is also frustrating traders, while China-US tensions continued as the White House considers measures against Chinese tech firms, citing national security.
With the disease showing no sign of easing globally -- total cases topped 18 million Monday -- governments are moving to reimpose containment measures.
Australia's Victoria state imposed fresh, sweeping restrictions Sunday, including a curfew in Melbourne for the next six weeks, a ban on wedding gatherings, and an order that schools and universities go back online in the coming days.
Britain introduced new measures in several northern counties at the end of last week, while there are reports the government is considering fresh moves to avert another economically painful national lockdown, including sealing off London.
The new wave of infections has fanned fears that a nascent economic recovery will be knocked off track.
"COVID-19 either remains rampant or is making worrying localised comebacks across the world," said Jeffrey Halley at OANDA.
"Although not priced into financial markets yet, it remains the critical risk factor to global recovery. Particularly if key economies that had previously controlled COVID-19 are forced back into large scale lockdowns again."
Asian stock markets were mostly higher Tuesday after Wall Street rose on a flurry of corporate deals and China's economic activity improved. Shanghai, Hong Kong and Seoul gained, while Tokyo retreated.
Most Asian markets fell Monday following another disappointing performance on Wall Street with investors growing concerned about an uptick in coronavirus infections in Europe and the United States, as well as the lack of movement in Washington on a new stimulus.
The MSCI index is also set for its biggest weekly drop since March, down more than 4% so far this week. Chinese blue-chips dropped 1.6%, Hong Kong's Hang Seng fell 1.7%, Seoul's KOSPI sank 2.59% and Australian shares fell 0.81%.
Japan's Nikkei declined 1.11%.
Tokyo is leading the Asian market with gains jumping 1.7 per cent while Sydney piled on 0.9 per cent. Euro Stoxx 50 futures fell 0.9% at 06:56 GMT, while German DAX futures shed 0.7% and UK's FTSE futures lost 0.5%.
The Sharjah Entrepreneurship centre (Sheraa) hosted a group of students from the IESE Business School in Spain on a virtual forum organised under the theme,
Tata Sons Chairman N. Chandrasekaran met Prime Minister Narendra Modi on Thursday ahead of a meeting with Air India officials. In October, Tata's Rs180 billion ($2.4 billion) bid for the carrier prevailed over a smaller bid by India SpiceJet chief Ajay Singh.
Danielle Curtis said, "The latest figures from Colliers demonstrate that visitors from Russia are playing — and will continue to play — an important role for our region’s travel sector, especially when it comes to the UAE."
Although the fine is only provisional, it is the latest twist in a saga that has spanned multiple continents and touched some of the world’s wealthiest people. Abraaj managed $14 billion for investors at its peak before its collapse in 2018.