Investing.com continues to digest Omicron risk as Asian stocks fall

Author: Gina Lee

Investing.com – Asia Pacific shares were mostly down on Monday morning. Calmness also returned to the markets.

Japan rose 0.04% to 21:05 ET (2:05 AM GMT) and South Korea fell 0.32%.

In Australia, it was stable at 7,279.30.

Hong Kong is down 0.11%.

The Chinese fell by 0.42% and the inch by 0.02%. A study by Peking University said China would see a huge rise in COVID-19 cases if it were to reopen in the U.S. more than anything other countries have yet seen.

US stocks rose, and the benchmark rose more than 1.50%. These moves suggested the market calmed down after immersing more dangerous assets on Friday as they discovered the omicron voltage of COVID-19.

Two South African health experts, including Angelique Coetzee, president of the South African Medical Association, suggested that the omicron variant has mild symptoms so far. However, the World Health Organization has warned that it will take time to assess stress and has classified it as a “variant of concern”.

Modern Inc. (NASDAQ 🙂 Medical Director Paul Burton said a reformulated shot for the new strain may be available in early 2022.

Whether Omikron’s emergence is a brief scare or a more severe blow to the economic recovery is still an opportunity to discuss the possibilities of tightening monetary policy already under pressure.

“We really need more answers to find out how it affects growth. Risky assets value prices in uncertainty, ”TD Securities Priya Misra told Bloomberg.

Other investors were more optimistic.

“The markets have traded through all the previous COVID-19 variants and have only touched the all-time highs. My hope is that we will do the same with this,” Tribeca Investment Partners Pty said. portfolio manager Jun Bei Liuk to Bloomberg.

Investors delayed the U.S. Federal Reserve last week from June to July 2022. However, Fed Chairman Raphael Bostic of Atlanta reduced economic risks as a result of a new variant of COVID-19. saying it was open to accelerating the decline in assets to halt rising inflation.