HONG KONG – Asian markets were sharply lower Friday on renewed concerns over the threat from coronavirus variants to the global economic recovery.
Japan’s decision to ban fans from most Olympic events, with Tokyo hosting the pandemic-postponed Games under a virus state of emergency, has heightened fears over the spread of infections from new coronavirus strains.
“Covid-19 resurgences remain a key risk for the region, with Japan being the latest to go under a state of emergency to curb spreads ahead of the Tokyo Olympics,” IG Asia market strategist Jun Rong Yeap wrote in a note.
“This may suggest a slower recovery ahead with third-quarter GDP growth probably revised…
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