On Wednesday, major markets across Asia-Pacific jumped after losses triggered by repeated uncertainty on the Omicron the day before.
On Tuesday, South Korea’s Kospi led gains, increasing 2.15% to close at 2,899.73 after a tumble of more than 3%.
Hong Kong’s Hang Seng index also raised, increasing 0.79% to finish trading at 23,658.93. However, Chinese stocks closed the day mixed, with the Shanghai composite increasing 0.37% to 3,576.88 and the Shenzhen component lower at around 14,794.24.
In Japan, the Nikkei 225 finished 0.42% higher at 27,935.63, a slight recovery after multiple sessions of losses. The Topix index improved 0.45% to 1,936.75.
Beyond Southeast Asia, the Straits Times index jumped 1.78% in Singapore as of 4:15 p.m. local time.
In Australia, the S&P/ASX 200 closed 0.29% lower at 7,235.91. Official data showed Wednesday, Australia’s economy shrank 1.8% in the September quarter. According to Reuters, that was over market forecasts for a 2.8% drop.
MSCI’s broadest index of Asia-Pacific shares increased 1.16% outside Japan.
Brent jumps approximately 5%
In the afternoon of Asia trading hours, Oil prices were higher after falling the day before. International benchmark Brent crude futures are up 3.9% to $71.87 per barrel. U.S. crude futures surged 3.55% to $68.53 per barrel.
In fact, the U.S. dollar index was at 95.896 after a recent fall from above 96.6.
The Japanese yen traded at 113.49 per dollar after a new weakening from below 114 against the greenback. The Australian dollar was at $0.7152, over an earlier low of $0.7118.
China’s factory activity reports
On Wednesday, a private survey showed that Chinese factory activity narrowed in November. The Caixin/Markit manufacturing Purchasing Managers’ Index declined to 49.8. Moreover, that was a drop from October’s reading of 50.7.
On Tuesday, China’s official manufacturing Purchasing Managers’ Index came in at 50.4 for November. It was above analysts’ expectations for a reading of 49.5.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.