© Reuters. FILE PHOTO: A woman wearing a protective mask, amid the COVID-19 outbreak, walks past an electronic board showing stock indexes of Japan and other countries outside a brokerage firm in Tokyo , Japan, September 21, 2021. REUTERS / Kim Kyung-Hoon
By Scott Murdoch
HONG KONG (Reuters) – Asian stocks tumbled on Wednesday, following a mixed session on Wall Street as investors in the region positioned their portfolios for the new year and continued to struggle. with the increasing number of Omicron coronavirus cases globally.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.25%, after six sessions of gains, following US trade volatility.
There was a loss in Hong Kong, which fell 0.6% as mainland tech shares fell while Chinese blue-chip stocks fell 0.25%.
fell 0.58% on Wednesday after hitting a one-month high on Tuesday.
But in Australia, the figure jumped 1% at the start of the session despite the country’s most populous state of New South Wales having announced 11,201 new cases of coronavirus.
Market volatility is common in late December as fund managers prepare to wipe out their books for the year and holidays, trading volume is thin in some major markets like Australia.
“Typically, at this time of year, global investors are starting to rethink the position of their portfolios and they are looking at them,” said Jim McCafferty, head of APAC equities research at Nomura. is considering the risks of entering 2022.
“Inflation is running high in Europe and the US, it’s more contained in Asia, so people are looking to position their portfolios to mitigate inflation. In the stock market, everyone is people are looking at companies that can pass on any future bull run and companies with dividend growth as a way investors can generate income.”
The rising number of Omicron cases doesn’t concern investors as much as initially feared because the death rate has not risen as high and the prospect of a global shutdown remains slim.
“Investors are moving forward and looking at what the impact of a return to normal will be,” McCafferty said.
A 0.26% gain on Tuedsay. The level hit an intraday record high for the session but weakened to end the day down 0.10%. Lost 0.56%.
Yields on the benchmark were 1.4773% versus a US close of 1.481 percent on Tuesday. The two-year yield, which rose with traders’ expectations of higher Fed funds rates, touched 0.7461% after touching 0.758% in the previous session, a near two-year high. [US/]
This, along with a more cautious mood for equities, helped give the dollar a slight boost. The greenback, which measures the greenback against six silver coins, was at 96.23, up from a low of 95,958 on Friday. [FRX/]
up 0.25% to $76.17 per barrel. increased to $79 per barrel.
Gold down slightly. was trading at $1,804,5631 per ounce. [GOL/]
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