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Asian stocks mixed after omicron worries rock Wall Street | national news

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By YURI KAGEYAMA Business Writer AP

TOKYO (AP) Asian stocks were mixed on Wednesday amid nervous trading amid concerns over the latest variant of the coronavirus.

Japan’s benchmark Nikkei 225 rose 0.8% in morning trading to 28,062.99, after turning earlier in the session. South Korea’s Kospi jumped 1.1% to 2,869.67. The Australian S & P / ASX 200 fell 0.4% to 7,229.40. The Hong Kong Hang Seng gained 1.3% to 23,787.71, while the Shanghai Composite was little changed, falling less than 0.1% to 3,563.03.

The detection of the omicron variant in Japan, as well as Brazil, announced on Tuesday, has raised concerns that new measures to contain infections will stifle tourism and other economic activities. Experts say it may be weeks before they know in more detail whether the omicron variant is causing serious illness.

Anderson Alves, a trader at ActivTrades, said Asian markets were nervous after a day’s drop on Wall Street and comments from Moderna CEO that existing COVID-19 vaccines may be less effective with omicron than previous variants.

Traders will be looking for new information regarding the new variant and its impact on the current vaccine framework, Alves said.

Wall Street’s losses worsened after the Federal Reserve chief said he would consider ending his support for financial markets sooner than expected.

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