Investor sentiment is improving a little.
(Photo: AP)
Frankfurt, Tokyo After the recent price falls, investors in Asia are back to stocks. Investors were on the lookout for bargains on Tuesday, but trading remained thin ahead of the upcoming end of year holidays. A push in China to help ailing real estate groups also brightened the mood.
The Beijing government is urging private and state real estate firms to purchase projects from struggling developers Evergrande and Kaisa to avoid destabilizing the economy.
In Tokyo, the Nikkei index rose 2.1 percent to 28,518 points. The Shanghai stock exchange and the index of the most important companies in Shanghai and Shenzen were quoted almost one percent higher. In Hong Kong, the index rose 1.2 percent. There was tailwind in China, especially for the real estate industry.
However, investors feared the consequences of the rapidly spreading Corona variant Omikron. “Corona remains a threat to the global economy. The first signs indicate that the Omikron variant is more contagious, but leads to less serious illnesses compared to earlier variants, ”explained the economists of the Australian bank CBA.
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