It remains uncertain whether Omicron is more contagious or whether the virus causes more severe ailments contrasted with different covid-19 variants, such as Alpha, Beta, Gamma, Delta, the WHO stated on 28 November.
However, the new variant has alerted Asia-Pacific nations to take travel restriction measures. Moreover, concerns have risen that numerous economies could impose lockdowns if it spreads.
Hong Kong-listed stocks of Chinese tech company Meituan fell 7% after the firm posted a decline of around 10 billion Chinese yuan ($1.56 billion) for the three consecutive months closed Sept. 30. Hong Kong’s Hang Seng index tripped 0.95% to conclude at 23,852.24.
The Mainland Chinese stock market closed confused, with the Shanghai composite slipping partially to 3,562.70 and the Shenzhen component hitting 0.223% higher to 14,810.20.
The Nikkei market 225 in Japan descended 2.53% to conclude at 28,751.62, while the Topix index dropped 2.01% to 1,984.98. SoftBank Group shares tumbled to 5.19% after a Bloomberg report that Chinese regulators have requested Didi, whose Japanese conglomerate carries a sizable investment, to exclude from the United States.
The stocks in Australia likewise blundered as the S&P/ASX 200 declined 0.54% today to 7,239.80.
On Monday, chief global strategist at Nikko Asset Management, John Vail, told CNBC’s “Squawk Box Asia” show that things certainly will be a tad dicier going ahead.”
“Omicron probably was not that bad as the market suspected it to be on Friday; however, it’s known to rock some of the excess risk practicing and consumption out there in the system too as people get a bit extra careful,” Vail added.
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