China industrial production, retail sales
SINGAPORE — Markets across Asia-Pacific were mixed on Wednesday as U.S. stocks fell overnight. The World Health Organization had warned of the possibility that it would happen again. omicron variant is spreading faster than any previous strain.
Japan’s Nikkei 225The Topix rose 0.4% in the early trading, and edged up 0.12% during trade.
South Korea’s Kospi suffered a loss of 0.26%, while Australia saw a gain of 0.36%. S&P/ASX 200The decline was 0.28%.
China will publish some economic data this Wednesday, including retail sales figures and industrial production numbers.
Chinese biotech firms are included in the listings BeiGeneShanghai’s Nasdaq-style Star Market will be the company’s debut. Already listed in Hong Kong, and on the Nasdaq U.S.
U.S. stocks dropped on Tuesday, as large tech stocks moved lower new inflation dataPrices continued to rise sharply.
The Nasdaq Composite led the decline, falling 1.14% to 15,237.64. It was the S&P 500 slid 0.75% to close at 4,634.09. The Dow Jones Industrial Average held up better than its counterparts but still fell 106.77 points, or 0.30%, to 35,544.18.
On Wednesday, the Fed’s two-day policy meeting will be concluded. Jerome Powell, central bank chair and Fed Chair, is scheduled to address the audience at 2:30 pm. ET Press Conference.
After Tuesday’s World Health Organization meeting, investors are expected to be cautious. warned the new Covid omicron variant is spreading fasterThis variant has been found in more countries than any of its predecessors, indicating that it is likely to be present in many.
Vivek Dahar, Director of Mining and Energy Commodities Research at Commonwealth Bank of Australia said “Oil prices plunged overnight following the International Energy Agency’s (IEA) statement that oil markets had returned to surplus this months and that that surplus will deepen in the early part of next year.”
“The group’s forecast is predicated on weaker demand linked to the omicron variant of COVID‑19, as well as stronger oil production from OPEC+, the US, Canada and Brazil,” he wrote in a Wednesday note.
During Asia hour, crude oil prices are continuing to drop. U.S. crude dipped 0.48% to $70.4 per barrel.