Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Breaking News

Cisco, Tesla, Kohl's Fall Premarket; Grab, Canada Goose Rise

Asian Stocks Up Over Positive U.S. Data, Positive Omicron Signs

Stock MarketsDec 22, 2021 09:54PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were up on Thursday morning, contributing to a global rally as mostly positive U.S. data and positive signs about the impact of the omicron COVID-19 variant on the economic recovery.

Japan’s Nikkei 225 was up 0.31% by 9:44 PM ET (2:44 AM GMT), with Bank of Japan Governor Haruhiko Kuroda speaking earlier in the day.

South Korea’s KOSPI was up 0.32% and in Australia, the ASX 200 was up 0.38%.

Hong Kong’s Hang Seng Index gained 0.44%.

China’s Shanghai Composite edged up 0.15% and the Shenzhen Component was up 0.22%. Shares in JD (NASDAQ:JD).com Inc. (HK:9618) slid after Tencent Holdings (OTC:TCEHY) Ltd. (HK:0700) announced plans to distribute JD.com shares worth HK$127.69 billion ($16.37 billion) to investors as a one-time dividend. Tencent’s stake in JD.com will fall from around 17% to 2.3%.

U.S. shares were little changed after the S&P 500 closed in on its record high. Wednesday’s U.S. data showed that the GDP grew 2.3% quarter-on-quarter in the third quarter of 2021 while existing home sales were at 6.46 million for November and the Conference Board Consumer Confidence index was at 115.8 for December.

Further data, including initial jobless claims, new home sales, durable goods orders, and the PCE price index is due later in the day. The data also includes personal income and spending, as well as the University of Michigan consumer sentiment and Michigan Consumer Expectations indexes.

A gauge of global stocks is up more than 2% for the month to date, leaving the index 15% higher for 2021 and on course to surpass the gains made in 2020. But recent market volatility, with the discovery of omicron and central banks’ moves towards tighter monetary policy, still has some investors concerned.

“Markets hate uncertainty and not knowing, and when omicron hit the markets, we didn’t know. But it seems like it’s edging toward something more positive,” BMO Family Office deputy chief investment officer Carol Schleif told Bloomberg.

On the COVID-19 front, Pfizer Inc.'s (NYSE:PFE) COVID-19 antiviral therapy, Paxlovid, received emergency use authorization from the U.S. Food and Drug Administration.

The virus' unpredictable path and the impact on growth and inflation continue to dominate investor risk appetite," David Chao, global market strategist Asia Pacific at Invesco, told Reuters.

"The recent health data from the U.K. and other places around the world indicate that the worst case is unlikely. Even though transmission rates are reportedly higher, this variant seems less virulent and less prone to cause serious illnesses or death."

Meanwhile, the Chinese city of Xi’an tightened restrictive measures to curb its latest outbreak of the virus. Omicron has now become the dominant COVID-19 strain in Australia, with the state of New South Wales seeing a record number of daily cases.

Asian Stocks Up Over Positive U.S. Data, Positive Omicron Signs
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email