Asian markets hit as Delta, Fed, China jolt recovery rally

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Hong Kong

Equity markets fell in Asian trade Friday with fears over the fast-spreading Delta variant, the Federal Reserve’s taper plans and China’s ongoing regula-tory crackdown taking the wind out of the sails of the global recovery rally.

Investors have for more than a year sent valuations surging on the back of colossal govern-ment and central bank support as well as optimism that the rollout of vaccines will help fight back against the coronavirus and allow economies to reopen.

But, while inoculations continue to be administered and life is slowly returning to a sem-blance of normal, the virus mutation has forced experts to rethink their outlooks for growth.—AFP

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