Asian stock markets are trading mostly lower on Tuesday, with most markets also extending the losses of the previous session, following the broadly negative cues from Wall Street overnight, as signs of growing inflationary pressures and the surge in spread of the delta variant of coronavirus in many countries raised concerns that the pace of global economic recovery might slowdown significantly. Asian stocks ended mostly lower Monday.
The Australian stock market is modestly lower on Tuesday, extending the losses of the previous session, with the benchmark S&P/ASX 200 staying below the 7,300 level, following the broadly negative cues from Wall Street overnight, with materials, energy and financial stocks dragging the market. Traders remain concerned about the spread of the highly contagious coronavirus variants in more states.
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