Asian stocks retreated on Friday as rising coronavirus cases, signs of a liquidity squeeze in China and persisting concerns over a retail trading frenzy in the United States triggered risk aversion.
Chinese shares ended lower as concerns over tight liquidity and loft valuations rattled investors. The benchmark Shanghai Composite Index slid 22.11 points, or 0.6 percent, to 3,483.07 despite the country's central bank injecting 100 billion yuan into the financial system. Hong Kong's Hang Seng Index ended down 267.06 points, or 0.9 percent, at 28,283.71.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.