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 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.

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.

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.