[HONG KONG] Asian markets fluctuated in morning trade on Tuesday as investors weighed record gains on Wall Street against fears the resurgent Delta coronavirus variant may put the brakes on the global economic recovery. Major US indices rebounded overnight from a slow start as bargain hunters stepped up purchases – leaving both the Dow and S&P 500 finishing narrowly positive to extend a streak of record high closes for a fifth straight day. Buoyed by those gains on Wall Street, Tokyo opened up 0.5 per cent.
But Mizuho Securities warned that the market will be “weighed down by rising virus cases and geopolitical risks that are pushing the yen higher.”
Markets in China have dragged since a regulatory crackdown on private business by Beijing that has left investors on edge, with Hong Kong fluctuating through the morning session and Shanghai flat.