Asian Stock Market: Most share indices retreat on China regulations, coronavirus jitters

• Asia-pacific stocks heading for weekly decile amid risk-aversion.
• Overnight fall in Wall Street reinforces worries on the global growth recovery.
• US dollar stays strong above 93.50 on Fed’s taper expectations.

Asian shares edge lower on the last trading day of the week on Friday following the decline on Wall Street.

MSCI’s broadest index of Asia-pacific shares outside Japan declined 1.04%, down 4.8% on the week, its worst week since February.

The US Dollar Index (DXY), holds onto the recent gains at a nine-month high, investors remain concerned about the worries on the rapid spread of the coronavirus Delta variant as it could derail the prospects of global economic growth.

Hong Kong Hang Seng’s index touched its lowest this year and down to 2.28%.

The Shanghai Composite Index gained 0.5%, falling for the second session in a row and heading toward a 1.9% plunge of the week, dragged down by persistent worries about the technical regulatory crackdown. 

Japan’s Nikkei 225 fell 0.4%, to a near seven-month low at 27,186 droping for the second straight session in a row.
 
South Korea’s Kospi edged lower 0.92%, on the way to its worst week in seven months.

Gold trades flat at $1,788 per ounce with mild gains.