Asia stocks tumble, havens rally on worry over new Covid-19 variant; STI down 1%

Asia stocks tumble, havens rally on worry over new Covid-19 variant; STI down 1%

TOKYO (BLOOMBERG) - Investors fled stocks and flocked to havens in global markets on Friday (Nov 26) amid growing concern over a coronavirus variant first discovered in South Africa. United States treasuries and the Japanese yen gained while South Africa's rand fell to its lowest in a year against the US dollar amid fears the variant may spread internationally, thwarting the recovery in the world's economy. Asian stocks and US equity futures fell amid the risk-off tone, with thin liquidity likely a factor given American markets were shut for Thanksgiving on Thursday. A gauge of Asia-Pacific stocks slid to the lowest since the middle of last month, with travel shares among the biggest decliners. Singapore Airlines shares fell nine cents, or 1.7 per cent, to $5.16. Japan's Nikkei index sank …
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