Asia stocks remained high as investors continued to assess omicron variant risk

The Wednesday trade has indicated that the shares in Asia-Pacific remained mostly high. This happened as the investors continued to access the impact of the new omicron variant of COVID. Reports say that the Hang Seng index of Hong Kong gained 0.34% during the final hour of trading while leaving behind the earlier gain of 1 %. On the other hand the mainland Chinese stocks had closed mixed. The Shanghai Composite went down slightly to 3,622.62 while the Shenzhen component advanced to 0.697% to 14,791.33.

While talking about Japan, Nikkei 225 closed 0.16% higher at 28, 562.21 and the Topix Index went up by 0.1% to 1,971.51. Even the South Korea’s Kospi saw a gain of 0.32% and finished the trading day at 2.984.48. Other placed like Australia recovered from the earlier loses increasing 0.13% on the day to 7,364.80. Meanwhile the Singapore travel stocks went down on Wednesday trade when the health ministry of the country announced a freeze of the new ticket sales for quarantine-free travel from Thursday that will help to limit the exposure to the omicron cases from abroad.

The Singapore Airlines shared fell 1.02% as the SATS went down 0.26 %. While the Straits Times Index in Singapore changed a bit as of the 3:23 p.m. local time. But these moves were seen in contrast of the gains that were reported elsewhere in the region for travel stocks. A surge was noticed in Japan Airlines shares by 2.68% and the ANA holdings increased to 1.17%. Even the Quantas Airways of Australia went up by 0.41 percent.

The Tech shares in Asia saw an increase on Wednesday trade. The shares of the Chinese tech giants in Hong Kong saw an early rise and they mostly remained in the positive territory. Alibaba was up by 0.44% while Tencent gained 0.14%. The overall, trade trends remained on the higher side, despite the uncertainty due to the Omicron variant of COVID. Although the future continues to remain in darkness.

Photo Credits: Pixabay

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