Jitters over inflation, worsening Covid-19 outbreak hammer Asian equities
Tech rout on Wall Street overnight sparks sell-offs in Singapore, Malaysia, Hong Kong, Taiwan and South Korea, but China's key Shanghai Composite Index bucks the trend
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Singapore
ASIAN equities were spooked by the inflation ghoul after it sparked a tech rout on Wall Street overnight. This followed merely a day after fears over rising prices seemed to have ebbed, underscoring how fickle markets can be and that tapering fears may be here to stay.
"Just like that, we're back to financial markets schizophrenic flirtation with inflation. Not enough meds have been ingested - clearly - because all the talk was of ebbing inflation fears after (last) Friday's mammoth non-farm payrolls miss," said Jeffrey Halley, Oanda's Asia Pacific senior market analyst.
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