By Gina Lee
Investing.com – Asia-Pacific stocks were mostly down on Friday morning as investors continued to assess the risks associated with the new variant of omicron COVID-19. US Treasury yields reduced the rise from comments from the US Federal Reserve suggesting it may step up the pace of its asset reduction.
China edged up 0.11% at 9:23 pm ET (2:23 am GMT) while China edged up 0.18%. The, released, was 52.1 in November.
Hong Kong listed developer Kaisa Group Holdings Ltd. (HK 🙂 also did not get approval for their debt swap plan.
Hong Kong slipped 1.27%.
Japan was down 0.21% and South Korea’s down 0.10%.
In Australia, the index fell 0.10%.
The Fed has argued for faster asset reduction through officials such as Fed Governor Randal Quarles, Atlanta Fed Chairman Raphael Bostic, and San Francisco Fed Chairman, Mary Daly. Fed Chairman Jerome Powell takes a similar position, with US Treasury Secretary Janet Yellen saying she understands the “reasoning” behind the Fed’s plans.
Some investors remain cautious, although some concerns about omicron have dissipated over hopes that current vaccines will remain effective or be fine-tuned.
“The market environment is changing,” Steven Wieting, chief investment strategist at Citigroup Private Bank, told Bloomberg.
“Monetary policy, fiscal policy are all in decline. This does not mean a declining market. But it won’t be like the rebound, the strong recovery we’ve had for almost every asset over the past year. “
On the data side, 222,000 US were deposited throughout the week. Investors are now awaiting the latest US jobs report, including, due later today.
Meanwhile, U.S.-listed Chinese stocks posted losses on Thursday, after the U.S. Securities and Exchange Commission announced plans to implement new law. The law requires foreign companies to open their books or risk being kicked from the New York Stock Exchange and the Nasdaq within three years.
Didi Global Inc. (NYSE 🙂 will begin preparations to exit the New York Stock Exchange and list on the Hong Kong Stock Exchange, the company said earlier today.
Meanwhile, shares of Grab Holdings Ltd. sank Thursday on their first day of trading on the NASDAQ board. The listing follows the company’s merger with Altimeter Growth Corp., approved on Tuesday, and the largest transaction to date for a special purpose acquisition company.
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