Shares in Asia-Pacific mostly rose in Monday trade, though India’s markets lagged as the country continues to see a surge in Covid infections.
Mainland Chinese stocks led gains among the region’s major markets, with the Shanghai composite up 1.3% while the Shenzhen component surged 2.576%.
India markets drop
India’s markets tumbled in Monday trade as both the Nifty 50 and BSE Sensex dropped more than 2% each as the Covid situation in the country remains severe and weighs on investor sentiment.
On Sunday, India reported 261,500 new cases. The country now has the second highest number of cases globally, behind only the U.S., according to data compiled by Johns Hopkins University.
Alibaba shares slip
Hong Kong-listed shares of Alibaba slipped 1.1% by Monday afternoon. That came after Ant Group said in a tweet that a recent report by Reuters that the firm was looking at ways for Jack Ma to exit were “untrue and baseless.”
