HONG KONG: Most Asian markets rose Wednesday, extending a global rally after their latest sell-off as investors assess the impact of the fast-spreading Omicron variant.
The year-and-a-half-long rally across markets has petered out in recent weeks on fears about the new Covid variant and government measures to contain it, which come just as central banks begin to remove the vast financial support put in place at the start of the pandemic.
Traders are also keeping an eye on developments in Washington after Joe Biden said he was optimistic he could win the key vote of Democratic Senator Joe Manchin, who said Sunday he would reject the present proposal, throwing the president’s economic agenda into doubt.
After being skittled on Monday, Asian markets bounced Tuesday thanks to a healthy dose of bargain-buying, and the positive energy filtered through to Wall Street and Europe.
