Business News Asia
After the stock markets got off to a thoroughly poor start to the week on Monday, with all the major markets in negative territory, the markets in Asia got off to a positive start on Tuesday (Dec. 21) morning. Market participants apparently came out of the weekend drawn by the negative Omicron headlines and took shelter for the time being.
On Tuesday, traders can thus benefit from a rebound which is evident this morning. The NIKKEI starts with 1.88% in plus, the HANG SENG is with 0.46% in plus, and SHANGHAI is 0.41% in plus.
Long-term investors should not be blinded by this, as global macro factors tend to hover negatively over the markets. Omicron and the announcement of the central banks to reduce liquidity are not bullish signs for stock markets.
Meanwhile, the Japanese government has raised its GDP forecast for next year to 3.0% or more, according to the Yomiuri newspaper. Japan, known for its very loose monetary policy and the birthplace of QE, expects further growth next year through more deficit spending. However, this snapshot does not take into account the impact of the Omicron charge, which could change the signs again.