By Alun John

HONG KONG (Reuters – Asian shares gained Tuesday. This was despite strong retail figures. While the Wall Street record-setting Wall Street day saw another strong performance, the safe-haven yen suffered as traders opted for riskier assets and currencies like equities.

Different asset classes, including oil and Stock Average, are trading near one month highs. They have recouped losses since late November when Omicron version of COVID-19 was first introduced. Investors were scrambling for safe havens.

Investors have returned to risk assets as the worst fears about the effects of this new variant are now extinguished.

Japan’s Nikkei increased 1.1% Tuesday and reached its highest point since Nov. 26, when it was at its highest. Meanwhile, MSCI’s Asia-Pacific index, which is not based in Japan, gained 0.23%. Index heavyweights such as Alibaba (NYSE:) Tencent and the Broad Benchmark mean that it is well below its November level.

Edison Pun (senior market analyst, Saxo Markets Hong Kong), stated that investors are not concerned by Omicron and China’s coronavirus situations.

China has reported 209 coronavirus confirmed cases in Dec. 27. This is an increase of 200 from the previous day. Most of the new cases were in Shaanxi province, which includes Xian (provincial capital).

Other countries have not imposed stricter restrictions on movement. Authorities in France, Britain, and France are betting high that the rising number of cases will prevent hospitals from becoming overwhelmed.

The overnight rise in the stock market was 1.38%, which is a new record. Strong U.S. retail sales emphasized economic strength. Meanwhile the gained 0.98% while the additional 1.39%. [.N]

This risk-on mood can be observed across all asset classes.

On Tuesday, oil prices gained cautiously after soaring more than 2 percent to the highest level in one month just a few days before. [O/R]

The price of a barrel rose 0.1% to $78.67 and climbed 0.25% up to $75.75

The safe-haven Japanese yen dropped to 114.87 USD, after hitting a one-month high earlier in the session.

In turn, the dollar lost ground against other currencies such as the pound which was up 0.5% on Monday. The pound last traded at $1.34455 for a 5-week high. ()

The price was constant at $1.810 per ounce. [GOL/]

While the benchmark yield was stable at 1.424%, it has increased steadily over the last week, in line with risk-on mood. It fell to as low as 1.375% 20 Dec. [US/]