28 Dec 2021
Asian Stocks Show Mixed Yields amid Omicron Worries and China Policy
The Index Today
Asian stocks yielded mixed results while investors attempted to ascertain the economic impact of the latest Chinese legislative policies and the global Omicron surge.
Although equities soared in Japan, it oscillated in Hong Kong and China after Beijing issued stricter policies to monitor foreign stock sales. This has been further compounded by the rapid spread of the Omicron, with the city of Xian being the latest COVID hotspot in the country.
The Hang Seng index plunged by 1.6% hitting a weekly low due to slow trades informed by the holiday weekend.
U.S. and European futures wavered, while oil edged better and the dollar altered. In the meantime, shares worldwide are on track to yield double-digit earnings for the third time in a row, proving to be unaffected by the Omicron surge in the U.S. and across the world.
Sandip Bhagat, the Chief Investment Officer at Whittier Trust, told Bloomberg, “The remedies that we put in place to counter the Covid recessions, they were so substantial, we had massive stimulus.” He also contended that the effects of these measures would be felt “well into the future”.