By Stanley White
TOKYO (Reuters) – Asian shares fell sharply on Friday and oil prices extended losses on growing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns, or even lead to fresh restrictions.
MSCI (NYSE:)’s broadest index of Asia-Pacific shares outside Japan slid 1.52%, after a strong run-up in recent weeks. Australian stocks dropped 1.89%, while shares in China fell 0.45%.
U.S. stock futures, the S&P 500 e-minis, rose 1.2% in Asian time on Friday after tumbling overnight, but that did little to help sentiment.
Oil futures slumped for a second consecutive trading session due to worries about weak global energy demand, which weighed on commodity currencies and boosted the safe-haven dollar.
The headed for its biggest daily decline in two weeks, underscoring investors’ risk-averse