Stock markets in Asia are mixed this morning after some big losses in Europe and Wall Street on Tuesday thanks to ongoing Omicron concerns and signals from the US Federal Reserve that it is going to wind up its massive monetary stimulus more quickly than expected.
The ASX200 in Sydney was first out of the blocks and it is down 0.83% thanks to the macroeconomic concerns, and despite a better than expected 1.9% fall in GDP in the third quarter. Forecasts had pointed to 2.7%.
The Kospi is up 1% in Seoul, however, boosted by strong exports in the third quarter, and the Nikkei is also up in Tokyo. The Hang Seng is tracking to shed 0.8%at the opening shortly so it’s a score-draw on the bourses so far.
Oil prices have also suffered because of the Omicron scare, which traders fear could jeopardise the recovery of the global economy and hurt demand. Brent crude is standing at $70.57 after falling 3.91% on Tuesday.