Asian stocks declined early on Thursday after a dip in U.S. shares as investors continue to fret over a slowdown in the recovery from the pandemic. Treasuries and the dollar held an advance.
Equities fell in Japan, Australia and South Korea. U.S. futures edged down after the S&P 500 retreated for a third day and the Nasdaq 100 posted the biggest drop in two weeks. A U.S. central bank survey signaled a moderation in economic growth due to the delta virus strain.
India’s SGX Nifty 50 Index futures for September delivery fell 0.2% to 17,342.00, while MSCI Asia Pacific Index was down 0.6%. The NSE Nifty 50 Index fell 0.1% on Wednesday to 17,353.50.
Chinese stocks trading in the U.S. tumbled on renewed concerns about Beijing’s regulatory crackdown after officials summoned gaming companies including Tencent Holdings Ltd. and Netease Inc. to discuss further oversight. Equity futures for Hong Kong were earlier in the red.
Treasury yields stay lower in the wake of strong demand at the monthly 10-year note auction. Oil was steady above $69 a barrel amid a slow return of U.S. production after Hurricane Ida.
Back home, SBI Life holder Canada Pension to sell 2 crore shares in block deals. GAIL India, Birla Fashion are among companies holding their annual shareholders’ meeting. Foreign investors bought net Rs 643 crore of stocks on Tuesday, according to NSDL website.