Asian markets were mixed Monday following last week’s gains, with investors keeping a worried eye on a fresh Covid outbreak in China that could drag on the already stuttering economy.

China is targeting an ambitious clean energy goal of reducing fossil fuel use to under 20 per cent by 2060, according to an official plan published by state media on Sunday.

China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector.

Shares of Chinese real estate firms slid on Thursday as investors fretted about a debt crisis rippling through developers including China Evergrande Group , a day after the sector was hit with fresh rating downgrades.

China’s factory inflation hit its highest level in a quarter of a century on surging commodity costs last month, with Thursday’s figures fanning concerns that higher prices could filter through supply chains and into the global economy.

Asian markets were mixed Wednesday as investors awaited key US inflation data that could play a major role in the Federal Reserve’s plans to tighten monetary policy, while concerns over a global energy crunch also jangled nerves.

China’s export growth unexpectedly accelerated in September, as still solid global demand offset some of the pressures on factories from power shortages, supply bottlenecks and a resurgence of domestic Covid-19 cases.

China’s thermal coal prices surged to fresh record highs on Wednesday as recent floods in a key coal producing province worsened a supply crunch, just as new efforts by Beijing to liberalise power prices boosted demand from power generators.

British American Tobacco will cease all operations in military-ruled Myanmar and withdraw by the end of this year, the company said on Tuesday, the latest Western firm to pull out of the country in turmoil since a February coup.

China’s export growth likely slowed in September as electricity rationing hit production at home, while a shift in consumption towards services as developed economies reopened likely reduced global appetite for Chinese goods, a Reuters poll showed on Tuesday.

Japan’s stock market has surged and luxury cars are selling fast in Tokyo after eight years of economic stimulus under Abenomics, but that new wealth is concentrated in a small slice of society rather than broadly distributed, data show.

Debt-saddled Chinese property firms took heavy fire in bond markets on Tuesday, after the poster child of the sector’s woes, Evergrande Group, missed its third round of bond payments in as many weeks and others warned of defaults.

Asian markets retreated Tuesday as investors grew increasingly concerned about a growing energy crisis, spiking inflation, signs of a slowdown in the global economy and an end to central bank financial support.

India's largest port operator Adani Ports and Special Economic Zone said on Monday that its terminals would no longer handle export and import of container cargoes from Iran, Pakistan and Afghanistan from November 15.

Chinese property firms’ bonds were hit with another wrecking ball on Monday as Evergrande looked set to miss its third round of bond payments in as many weeks and rivals Modern Land and Sinic became the latest scrambling to delay deadlines.

Mercedes-Benz, the German company founded by the inventors of the motor car, is pouring more resources into its cutting-edge research and design capabilities in China as the centre of gravity of the new auto world shifts eastwards.

Most Asian markets rose on Monday to extend last week’s rally after US lawmakers averted a painful debt default, but another jump in oil prices added to inflation concerns as the Federal Reserve prepares to taper its ultra-loose monetary policy.

China will incorporate biodiversity protection in development plans in all regions and sectors, Vice Premier Han Zheng said on Monday at the opening of UN talks aimed at making progress on a global deal to halt mass extinction.

Asian shares rallied on Thursday, taking heart from a late recovery on Wall Street after US politicans appeared near to a temporary deal to avert a federal debt default and as Russia reassured Europe on gas supplies, calming volatile markets.

Sagging demand at China’s urban land auctions amid a crackdown on borrowing by private developers’ risks squeezing regional finances, pressuring local governments to scramble for other income sources to fund investments and support the economy.