Market Updates
Asian Markets Ease On Rising Coronavirus Infections In China
Arjun Pandit
12 Jul, 2022
New York City
Asian markets fell across the region on the rising prospects of a recession and the resurgent highly infectious subvariant of coronavirus infections in parts of China.
About 30 million people in China are placed in a lockdown condition as several cities in China including parts of Beijing and Shanghai report a rapid spreading of coronavirus.
The Nikkei index dropped 1.8% to 26,339, the Hang Seng index fell 1.3% to 20,844.74, and the Shanghai index declined 1.0% to 3,281.47.
Stocks in Tokyo declined after a measure of wholesale prices rose for the third month in a row in June.
The Japanese yen edged slightly up to 136.65 against one U.S. dollar.
The Sensex index in Mumbai fell 0.94% to 53,886.61 and rupee dropped to a new low as the dollar surged against worldwide currencies.
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