Asian stocks show mixed performance in volatile trade after us market rout

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Asian Stocks Show Mixed Performance in Volatile Trade After US Market Rout

Asian stocks were mixed in volatile trade on Monday, following a sharp decline in the US market overnight. The US S&P 500 index fell 3.6% on Friday, its biggest one-day drop since June, amid concerns over the spread of the Delta variant of COVID-19 and inflation worries.

In Asia, Japan's Nikkei 225 index rose 0.4% to 27,443.15, while South Korea's Kospi index fell 0.5% to 2,945.15. Hong Kong's Hang Seng index was down 0.3% to 26,311.15, while China's Shanghai Composite index was flat at 3,583.15.

In Taiwan, the TAIEX index fell 0.4% to 15,441.15, while Singapore's Straits Times Index was down 0.2% to 3,144.15. Australia's S&P/ASX 200 index was flat at 7,344.10.

The mixed performance in Asian markets came as investors digested the US market rout and assessed the impact of the Delta variant on the global economy. The variant has spread to over 100 countries, including the US, and has led to renewed concerns over the pace of economic recovery.

In currency markets, the US dollar was steady against major currencies, while the Japanese yen fell 0.2% against the dollar to 110.15. The euro was flat at $1.1855.

Overall, the mixed performance in Asian markets reflected the uncertainty and volatility in global markets, as investors await further developments on the COVID-19 pandemic and the economic outlook.