Asian stocks closed mostly in decline this Monday (29) following strong losses in Western markets last Friday, amid concerns about the Ômicron variant of the coronavirus.
In Hong Kong, where a case of the mutation was detected, the Hang Seng Index ended the session with a loss of 0.95%, at 23,852.24 points. Fears that the new strain would hamper the travel industry’s recovery hurt airline shares, with Cathay Pacific Airways down 3.55%, followed by China Southern Airlines (-2.64%).
In mainland China, Shanghai dropped 0.04%, to 3,562.70, while Shenzhen, of smaller coverage, rose 0.22%, to 14,810.20 points.
Taiwan’s Taiex index retreated 0.24% to 17,328.09 points.
In South Korea, the Kospi had a devaluation of 0.92%, to 2,909.32 points, on the Seoul Stock Exchange. Samsung C&T Corporation, owner of the largest amusement park in the country, gave 3.15%.
In Tokyo, the Nikkei index lost 1.63 percent to 28,283.92 points. Japan’s government has announced that it will close the borders to foreign tourists in order to contain Ômicron.
Shares of companies linked to logistics, including Nippon Yusen KK (+2.44%) and Mitsui OSK Lines (+2.31%), countered the negative tone of Japanese business, amid expectations that the new strain will maintain the high freight prices.
Oceania
In Oceania, the Sidney S&P/ASX 200 index dropped 0.54% to 7,239.80 points. Investors are awaiting the release of the Australian Gross Domestic Product (GDP) reading in the third quarter, which should show contraction, next Wednesday (local time).
Reference: CNN Brasil
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