Stocks in Asia were mostly higher on Friday after a large rally on Wall Street, as investors monitored the spread of the Omicron variant of SARS-CoV-2 and measures taken by governments to limit its spread.
Chinese ridesharing service Didi Global Inc (滴滴 出行) said on Friday it would withdraw from the New York Stock Exchange and move its listing to Hong Kong as the Chinese Communist Party tightens its control over tech industries.
The United States Securities and Exchange Commission has decided to require foreign stocks listed in the United States, such as Didi, to disclose their ownership structures and audit reports, which could lead to the delisting of some of them. between them.
In another blow to the struggling Chinese real estate industry, Hong Kong-listed property developer Kaisa Group said it had failed to secure bondholder approval to extend the deadline for a debt swap of $ 400 million intended to avoid default.
Hong Kong’s Hang Seng lost 0.09% to 23,766.69, down 1.3% for the week.
In Taipei, TAIEX closed 27.74 points, or 0.16%, at 17,697.14 on revenue of NT $ 325.266 billion (US $ 11.73 billion). It increased 1.89% from the previous week.
In Japan, the Nikkei 225 regained lost ground, gaining 1% to 28,029.57, but posted a weekly decline of 2.51%, while the wider TOPIX rose 1.63% to 1,957.86 , losing 1.37% from the previous week.
In Seoul, KOSPI climbed 0.78% to 2,968.33, up 1.09% per week, while Sydney’s S & P / ASX 200 rose 0.22% to 7,241.2 but lost 0.52 over the week.
The Shanghai Composite Index gained 0.94% to 3,60743, an increase of 1.22% from the previous week.
India’s SENSEX fell 1.31% to 57,696.46, but rose 1.03% weekly.
The recent rebound may prove to be short-lived, Oanda Corp’s senior market analyst said in a comment.
“The first signs are not promising given the rate of increase in cases in South Africa and the fact that Omicron is already popping up in many other countries,” said Erlam.
Investors could “hope for positive news on the vaccine’s effectiveness against the new strain and take advantage of those levels before it’s too late.” If they don’t get the news they are hoping for, we could see another steep drop, ”he said.
Additional reports by the editor, with CNA
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