Shares in the Asia-Pacific region were in the red on Monday as investors digest prospects for global growth in a wake of rising coronavirus infections and slow vaccination rollout. During the weekend China’s top disease control official said current Chinese vaccines offer low protection against the coronavirus. Traders also await the US earnings season to kick-off this week for a clearer picture on companies’ valuation while GDP growth figures for China are also due during this week. The Shanghai Composite was among the worst performers in the region, falling by 1.1%, despite a rally in Alibaba shares after the company accepted a record antitrust fine from the Chinese government that removed a regulatory overhang. Meanwhile, the Indian Sensex plunged more than 3% in late trade after Reuters reported the hardest-hit state of Maharashtra is considering a lockdown.
