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Asia stuck in the ‘red’ – ‘Dive’ over 2% in Hong Kong

Stock markets in the Asia-Pacific region are falling as investors continue to monitor developments regarding the new coronavirus Omicron mutation.

The focus is on the statements of the CEO of Moderna, who told the Financial Times that existing vaccines will be less effective against the new mutation. He expressed his appreciation to CNBC that it will take months for a vaccine to be developed and available which will specifically target the mutated Omicron strain.

In macro of the day, Manufacturing index unexpectedly recovered in China in November putting an end to a two-month contraction that came as a result of the energy crisis. The PMI rose to 50.1 points in November from 49.2 points in October. The results were better than estimates for 49.6 points, and exceeded the limit of 50 points separating growth from recession.

In this climate, the Hang Seng index at Hong Kong is among the biggest losers in today’s trading, down 2.3%. In mainland China the Shanghai Composite slips by 0.2%, while Shenzen loses 0.338%.

In South Korea, the Kospi index recorded losses of 2.42%.

In Japan, the Nikkei 225 index lost 1.63% and the Topix index 1.03%, while the yen strengthened to 113.16 per dollar compared to the levels around 113.9 recorded earlier.

The S & P / ASX 200 at Australia adds 0.22%, while the broader MSCI index for Asia-Pacific equities outside Japan is down 0.74%.

Oil prices are also falling in Asia. Brent slipped 2.49% to $ 71.61 a barrel and US crude fell 2.56% to $ 68.16 a barrel.

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