Asia-Pacific Stocks Decline as Markets Watch Omicron Variant

On Monday, Asia-Pacific stocks sharply fell as market participants monitored the latest developments surrounding the newly discovered omicron coronavirus variant.

Accordingly, the World Health Organization (WHO) labeled the new strain as a  “variant of concern.” 

In China, the benchmark Shanghai Composite skidded 0.04% or 1.39 points to $3,562.70 per share. 

At the bottom of the index, pharmaceutical company Beihai Gofar lost 7.90% or 0.09 points to $1.06 per share. 

Conversely, the Shenzhen Component index pared 0.05% or 7.88 points to $14,769.29 per share. 

Auto components manufacturer Dalian Demaishi boosted Dalian Demaishi by 20.01% or 0.75 points to $4.48 per share. 

In Hong Kong, the Hang Seng index tumbled 0.52% or 124.09  points to $23,956.43 per share. 

Correspondingly, Sun Entertainment Group plunged 23.87% or 0.005 points to $0.02 per share. 

The arrest of its controlling shareholder Alvin Chau Cheok-wa over alleged gambling offenses pulled its stock price today. 

Likewise, Galaxy Entertainment Group plummeted 7.80% or 0.46 points to $5.46 per share.

At the same time, tech giant Meituan shed 7.74% or 2.62 points to $31.18 per share. This decline came after the company posted a $1.56 billion loss in its third-quarter results.

Consequently, Japanese markets posted losses in the Asia-Pacific stocks. The Nikkei 225 index decreased 0.99% or 284.27 points to $28,467.35 per share. 

Also, the broader TOPIX index pared 1.31% or 26.06 points to $1,958.92 per share. 

Elsewhere, South Korea’s KOSPI curtailed 0.43% or 12.51 points to $2,923.93 per share. 

In Australia, the S&P/ASX 200 slashed 0.36% or 26.50 points to $7,252.80 per share. 

Moreover, MSCI’s broadest index of Asia-Pacific stocks diminished 0.34% or 2.15 points to $625.60 per share. 

US Futures Rose as Asia-Pacific Stocks Fell

Inversely, US stock futures moved higher following Friday’s big sell-off, while the Asia-Pacific stocks edged lower.

Accordingly, the Dow futures climbed 0.41% or 144.00 points to $34,998.00 per share. 

Similarly, contracts in the S&P increased 0.66% or 30.50 points to $4,625.75 per share. 

Also, the Nasdaq futures jumped 0.95% or 152.50 points to $16,204.00 per share. 

Meanwhile, The Dow Jones Industrial Average index narrowed 2.53% or 905.04 points to $34,899.34 per share. 

Then, the benchmark S&P 500 waned 2.27% or 106.84 points to $4,594.62 per share. 

Furthermore, the Nasdaq Composite index dipped 2.23% or 353.57 points to $15,491.66 per share.