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omicron Covid, China factory activity, oil prices


SINGAPORE — Major markets across Asia-Pacific bounced back on Wednesday, following losses the day beforeThey were due to renewed uncertainty regarding the omicron Covid version.

South Korea KospiRegionally, the gains led were 2.17%. This was after Tuesday’s more than 2% tumble.

Hong Kong Hang Seng indexThe stock index also experienced strong gains and rose 1.4%, after having fallen the previous day. The mainland Chinese stock market was mixed with mixed results. Shanghai compositeUp to 0.11% Shenzhen componentA decrease of 0.267%

Japan is home to the Nikkei 225The index gained 0.84% in an attempt to rebound from several losses. Topix rose by 0.74%

The region of Southeast Asia is home to the Straits Times indexSingapore saw an increase of 1.29%.

It S&P/ASX 200Australia reversed the trend and saw a dip of 0.18%. Official data Wednesday showed that Australia’s economy contracted 1.9% during the September quarter. According to Reuters, this was higher than the 2.7% market prediction.

MSCI’s Asia-Pacific share index outside Japan was 1.3%.

China’s Factory Activity Data

According to a private survey, Chinese factory activity decreased in November according to the Caixin/Markit Manufacturing purchasing managers’ index at 49.9. It was down from October’s 50.6.

China’s official manufacturing Purchasing Managers’ Index for November came in at 50.1 on Tuesday, above expectations by analysts in a Reuters poll for a reading of 49.6.

PMI readings lower than 50 indicate contraction, while higher levels signify expansion. PMI readings can be interpreted as sequential, and indicate month-on-month growth or contraction.

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Shares stateside dropped overnight, with the S&P 500 falling 1.9% to 4,567, amid fears over the recently discovered omicron Covid variant. Dow Jones Industrial Average fell 652.22 points, to 34.483.72, while the Nasdaq Composite dropped 1.55%, to 15.537.69.

Meanwhile, U.S. Federal Reserve Chairman Jerome Powell saidAt its December meeting, the central bank plans to discuss speeding the bond-buying taper.

More than 22% increase in oil prices

After plummeting the previous day and falling further, oil prices were up in Asia today. International benchmark Brent crude futuresBarrel price up to $70.92 U.S. crude futuresThe price of a barrel rose by 2.28%, to $67.69

It U.S. dollar indexThe indices that track the greenback in relation to a basket of peers were at 95.933 following a recent decline from 96.5.

It Japanese yenThe dollar traded at 113.46 after recent weakness of the greenback against it. After a recent weakening from below 113 against the greenback, it traded at 113.46 per dollar. Australian dollarThe price was $0.7163 which is higher than the previous low of $0.7117.