Asian stocks sink on China virus surge
AP, BEIJING
Asian stock markets retreated on Friday after a resurgence of COVID-19 infections in China and a rise in cases in Southeast Asia.
Shanghai, Hong Kong, Tokyo and Australia declined. South Korea advanced.
Overnight, Wall Street closed higher. Gains for tech stocks offset losses elsewhere.
Optimism about the rollout of COVID-19 vaccines was dented by a spike in infections in China, where the disease had been under control.
The Chinese government is testing millions of people in Beijing and some other cities. Authorities have called on the public to avoid travel during next month’s Lunar New Year holiday.
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Analysts had forecast for the rupee to rise for the first time in four years on hopes the RBI may slow its foreign-currency accumulation after the stockpile rose to a record.
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