Asian markets closed on the positive note in the first day of trading on Tuesday despite concerns over the spread of omicron looms over.
The SET, KOSPI, TOPIX and HSI closed inching up by 0.76%, 0.02%, 1.90% and 0.06% respectively. The CSI300 closed by 0.46% as traders rushed to pocket profits on positions held last year.
The Shenzen stock exchange finished 2.2% lower on Tuesday which was highly dragged down by battery maker Contemporary Amperex Technology Co.’s 3.3% drop.
The renewables energy stock saw selloff as Beijing said it would terminate the government’s subsidy policy for new energy vehicle purchases from 2023. Investor mood also turned cautious after China’s central bank cut its net supply of funds to markets by the most in three months, a disappointment for investors hoping for more monetary easing.
U.S. futures S&P500 and Nasdaq inched up by 0.26% and 0.23% respectively.
Crude futures are on the positive as traders awaits key production decision by OPEC+ meeting to be held on Tuesday overnight. The WTI is trading up by 0.81% to $76.68 while the Brent is up by 0.56% to $79.52.