Asian Markets Retreats from Loss Posted on Monday

Postive sentiment pushed Asian markets upward while traders cautious on omicron development

Asian stocks retreated from yesterday’s loss on Tuesday morning amid omicron fears rages over globally with U.S. health officials announcing 73% of last week’s COVID-19 cases were omicron.

KOSPI (.KS11), Japanese Topix (.TOPX), CSI300 (.CSI300) and Hang Seng (.HSI) index are trading up by 0.31%, 1.70%, 048% and 0.56% respectively.

Indices in the U.S. overnight closed in the red as omicron looms over the country, however President Biden’s domestic investment bill in question weighed higher on investor’s sentiment. The S&P500 inched down by 1.13% and Nasdaq down by 1.24%.

In the commodity market crude oil futures are on a upward trend with WTI up by 1.22% and Brent up by 1.01%.

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