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Asian Shares Retreat On Covid-19 Worries

(RTTNews) - Asian stocks fell on Friday after scientists in South Africa identified a concerning new variant of the coronavirus, whose mutations mark a "big jump in evolution".

Britain and Israel temporarily banned flights from South Africa and five neighboring countries as a precautionary measure.

Worries about inflation and bets of faster monetary policy tightening in the U.S. also dented sentiment, heading into the weekend.

According to Goldman Sachs Group, the Fed is likely to double the pace at which it tapers bond purchases to US$30 billion a month from January.

Gold was set for its worst week in five months while oil prices fell more than 1 percent in Asian trade on concerns that a global supply surplus could swell in the first quarter.
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