Asian stocks close lower, with focus on US rates and Omicron

At asian bags closed mostly lower on Thursday, a day after U.S. inflation data reinforced bets that the Federal Reserve will start raising fees in the coming months and amid renewed concerns about the spread of the Omicron variant of the coronavirus around the world.

In mainland China, the Shanghai Composite index slipped 1.17% to 3,555.26 points, and the less comprehensive Shenzhen Composite index dropped 1.65% to 2,434.92 points. Liquor makers stocks were a negative highlight amid fears that sales over the Chinese New Year holiday will be weaker because of recent outbreaks of Covid-19. Elsewhere in Asia, Japan’s Nikkei lost 0.96% in Tokyo, to 28,489.13 points, and South Korean Kospi lost 0.35% in Seoul, to 2,962.09 points.

On the other hand, Hang Seng rose slightly by 0.11% in Hong Kong, to 24,429.77 points, but Sunac China Holdings’ share suffered a drop of almost 23%, after the Chinese developer revealed plans to raise funds for through a sale of shares. In Taiwan, the Taiex secured a modest advance of 0.33%, to 18,436.93 points.

As expected, the US annual consumer inflation rate (CPI) accelerated further and reached 7% in December, reaching the highest level since 1982. The result consolidated expectations that the Fed is preparing to announce its first rate hike. at the March monetary policy meeting.

Also on the radar is the Ômicron variant, which led the world to surpass the mark of 15 million new cases of infection by covid-19 over the last week, a record.

In Oceania, the Australian stock exchange ignored the prevailing bad mood in Asia, and the S&P/ASX 200 advanced 0.48% in Sydney, at 7,474.40 points, boosted by shares of oil and mining companies.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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