• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

Asia-Pacific stocks bounce as investors assess omicron Covid variant concerns; oil prices jump 2%

by
December 1, 2021
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

Long-Bond Yield’s Biggest Jump Since 2009 Has Ackman Eying 5%

Meal-Kit Maker Blue Apron to Be Sold

Nike soars on first quarter earnings, confidence in Chinese consumer regardless of ‘macroeconomic outlook’

Powerball jackpot is $925 million. Here’s what you’d pocket after taxes.

SINGAPORE — Major markets across Asia-Pacific bounced back on Wednesday, following losses the day before that were triggered by renewed uncertainty on the omicron Covid variant.

South Korea’s Kospi led gains regionally, rising 2.17% after a tumble of more than 2% on Tuesday.

Hong Kong’s Hang Seng index also saw robust gains, rising 1.4% after falling the day before. However, mainland Chinese stocks were mixed, with the Shanghai composite up 0.11% and the Shenzhen component shedding 0.267%.

In Japan, the Nikkei 225 climbed 0.84%, attempting to recover following multiple sessions of losses. The Topix index advanced 0.74%.

Over in Southeast Asia, the Straits Times index in Singapore jumped 1.29%.

The S&P/ASX 200 in Australia bucked the trend, dipping 0.18%. Australia’s economy shrank 1.9% in the September quarter, official data showed Wednesday. That was above market forecasts for a 2.7% decline, according to Reuters.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3%.

China’s factory activity data

A private survey released Wednesday showed Chinese factory activity shrinking in November, with the Caixin/Markit manufacturing Purchasing Managers’ Index coming in at 49.9 for that month. That was a decline from October’s reading of 50.6.

China’s official manufacturing Purchasing Managers’ Index for November came in at 50.1 on Tuesday, above expectations by analysts in a Reuters poll for a reading of 49.6.

PMI readings below 50 represent contraction while those above that level signify expansion. PMI readings are sequential and represent month-on-month expansion or contraction.

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.

Oil jumps more than 2%

Oil prices were higher in the afternoon of Asia trading hours, after tumbling the day before. International benchmark Brent crude futures up 2.44% to $70.92 per barrel. U.S. crude futures rose 2.28% to $67.69 per barrel.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.933 after a recent drop from above 96.5.

The Japanese yen traded at 113.46 per dollar after a recent weakening from below 113 against the greenback. The Australian dollar was at $0.7163, above an earlier low of $0.7117.

Next Post

Omicron setback is a buying opportunity for tourism stocks, investor says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Long-Bond Yield’s Biggest Jump Since 2009 Has Ackman Eying 5%

by
September 29, 2023
0

Read more

Long-Bond Yield’s Biggest Jump Since 2009 Has Ackman Eying 5%

Meal-Kit Maker Blue Apron to Be Sold

Nike soars on first quarter earnings, confidence in Chinese consumer regardless of ‘macroeconomic outlook’

Powerball jackpot is $925 million. Here’s what you’d pocket after taxes.

The U.S. Carries $33 Trillion in Debt. How It Stacks Up to the World.

Friday: Personal Income and Outlays

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home

moneyprofitnews