(Bloomberg) Asian stocks fell Friday as the fast-spreading delta virus strain stoked concerns about economic growth and China’s regulatory curbs sapped sentiment. The dollar was firm and commodities trimmed a weekly drop. MSCI Inc.’s Asia-Pacific gauge was at the lowest since December. Shares slid in China and Hong Kong Alibaba Group Holding Ltd. hit another record low as Beijing cracks down on private industry. The latest step against big tech is legislation setting out tougher rules for handling user data. State media also scrutinized liquor makers, online pharmacies and cosmetics firms. U.S. equity futures dipped after modest overnight S&P 500 and Nasdaq 100 gains during choppy trading. Treasuries held a climb and the dollar was around a nine-month high. Commodities stabilized but their recent slump is flashing a warning about the impact of Covid-19’s resurgence on the global recovery. The delta strain is stoking doubts about achieving herd immunity to underpin economic
(Bloomberg) Asian stocks look set for a cautious open Friday as the delta virus strain and the prospect of reduced central bank stimulus weigh on the economic outlook, hurting commodities and bolstering the dollar. Futures were modestly higher in Japan, Australia and Hong Kong. U.S. contracts fluctuated after the S&P 500 and Nasdaq 100 rose overnight in a choppy session, while Treasuries climbed and the dollar hit a nine-month high. Commodities have slumped, flashing a warning about the impact of Covid-19’s resurgence on the global recovery. Chinese stocks listed in the U.S. tumbled further including declines of more than 6% in Tencent Holdings Ltd. and Alibaba Group Holding Ltd. as Beijing deepens a regulatory crackdown on private industry. The delta strain is stoking doubts about achieving herd immunity to underpin economic reopening, just as Chinese activity slows and the Federal Reserve eyes a gradual reduction of emergency stimulus. That mix puts global stocks and commodit