Investors sell risk assets as delta variant causes alarm

Tokyo Olympics will likely proceed without any spectators as Japan declares state of emergency. (Image: Unsplash)

Fri, 09 Jul 2021

New Zealand shares declined as covid-19 returned to centre-stage with even well-vaccinated countries struggling to stave off the delta variant.The S&P/NZX 50 Index fell 62.16 points, or half a percent, to 12,690.35. Turnover was $185 million.Asian share markets tumbled to a four-month low Friday as investors lost their nerve and sold risk assets in favour of bonds and the US dollar.BNZ interest rate strategist Nick Smyth said the rapid spread of the covid-19 delta variant was making investors more cautious as it could slow the reopening of...

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