Asian stocks, oil falls as second wave fears grow

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Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of Covid-19 infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China further weighed on sentiment. US financier MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3% with Australian shares off 0.1% and South Korea easing 0.3%. Japan's Nikkei faltered 0.7%. Chinese shares opened in the red with the blue-chip CSI300 index down 0.1%. Monday's losses follow a strong rally in global equities since late March, fuelled by fiscal stimulus and optimism as countries gradually lifted restrictions put in place to curb the spread of Covid-19. "Any new outbreak will be looked at very, very cautiously by investors. The market is putting into perspective that the Covid-19 issue has not been resolved yet. It's a reality check," said…