Coronavirus Woes Dampen Risk Sentiment

Another negative day for equities in the Asia-Pac region as slow progress in vaccination programmes amid fresh worries over elevated coronavirus case numbers hinder economic recoveries. In Japan the Nikkei 225 is down over 2% and on the verge of entering a technical correction. It has been confirmed that Japan will ban spectators from attending Olympic events in Tokyo and adjacent prefectures Saitama, Chiba and Kanagawa. The Hang Seng clawed back earlier losses and is now in positive territory having earlier lost over 1%, the index is now down around 20% from its peak in February as tech shares struggle. Markets in mainland China are lower but off worst levels after inflation figures softened from last month. Elsewhere tensions Sino-US tensions simmer after report the US will add at least 10 Chinese entities to its economic blacklist as early as today over Xinjiang. The ASX 200 in Australia is down over 1%, pressured by worries over another lockdown extension and lower iron ore. In the US futures are lower, major bourses looking set to add to losses from Thursday.