Asia-Pacific stocks mixed following Wall Street tumble as investors assess omicron Covid variant concerns

SINGAPORE — Asia-Pacific stocks were mixed in Wednesday morning trade following an overnight tumble stateside as investors continued to assess the impact of the recently discovered omicron Covid variant.

In Japan, the Nikkei 225 climbed 0.3% in early trade, attempting to recover following multiple sessions of losses. The Topix index advanced 0.22%. South Korea’s Kospi gained 0.62%.

The S&P/ASX 200 lagged, dipping 0.3%. Australia’s third-quarter GDP data is expected to be out at 8:30 a.m. HK/SIN on Wednesday.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.35% higher.

A private survey on China’s factory activity in November is expected on Wednesday, with the Caixin/Markit manufacturing Purchasing Managers’ Index set to be out at 9:45 a.m. HK/SIN.

Stock picks and investing trends from CNBC Pro:

Shares stateside dropped overnight, with the S&P 500 falling 1.9% to 4,567, amid fears over the recently discovered omicron Covid variant. The Dow Jones Industrial Average also plunged 652.22 points to 34,483.72 while the Nasdaq Composite slipped 1.55% to 15,537.69.

Meanwhile, U.S. Federal Reserve Chairman Jerome Powell said the central bank will discuss speeding up the bond-buying taper at its December meeting.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.994 after a recent drop from above 96.5.

The Japanese yen traded at 113.29 per dollar after a recent weakening from below 113 against the greenback. The Australian dollar was at $0.7124, off levels above $0.715 seen recently.


See also  California delays decriminalizing psychedelic substances

Leave a Reply