SINGAPORE – Asia-Pacific markets were mixed on Tuesday, as neighboring markets fell with the S&P index retreating from record levels. Meanwhile, investors will keep an eye on the omicron variation as it returns to focus.
Japanese Nikkei 225 0.1% gain in early trading, while Topix is up 0.27%.
However, Korea Kospi down 0.6%, with tech names falling. Samsung Electronics fell 0.65%, while LG Electronics fell 2.24%.
of Australia S&P / ASX 200 down 0.15%.
Caution over the new omicron variant prevails again because UK confirmed on Monday that at least one patient infected with the new omicron variant of Covid-19 has died in the country. China also reported its first omicron case, according to Reuters.
University of Oxford Results will be announced on Monday shows two doses of Oxford-AstraZeneca or Pfizer–BioNTech The Covid-19 vaccine is fundamentally less effective at blocking omicrons than earlier variants of the coronavirus. The study has not yet been peer-reviewed.
The research paper notes that some vaccine recipients “failed to neutralize” the virus.
US stocks rebounded overnight, with S&P falls from record start beginning of the week. It fell 0.9% to 4,668.97 and sits about 1.6% off the intraday record. The Dow Jones Industrial Average traded 320 points lower at 35,650.95. The tech-focused Nasdaq Composite fell nearly 1.4% to 15,413.28 and the tech-focused Nasdaq Composite dropped nearly 1.4% to 15,413.28.
“More and more companies in Europe are asking employees to work from home amid rising cases. Further research shows lower protection from two doses of mRNA vaccine. oil market from OPEC,” wrote ANZ Research analysts Brian Martin and Daniel Hynes in a note Tuesday.
Oil prices fell on Monday on new suspicions about the variant. US crude hovered near a straight line on Tuesday during Asian hours, trading at $71.34 a barrel.
Investors’ focus will also likely be on the Fed’s latest two-day policy meeting, which begins on Tuesday. After the meeting ends on Wednesday, the Fed is expected to announce that it will accelerate the pace of cuts to its asset purchase program.
Currency
The US Dollar Index, which tracks the greenback against a basket of other currencies, was at 96.317 – a sharp increase from 96.1 at the beginning of the week.
The Japanese yen was trading at 113.54 per dollar, weakening from around 113.2 in the previous sessions. The Australian dollar at $0.7131, down from the previous level of around $0.715.
– CNBC’s Chloe Taylor contributed to this report.
