The Asian stock exchanges are not impressed by the Omikron variant.
(Photo: dpa)
Hong Kong After the latest price gains, Asian investors are shifting down a gear. The Japanese Nikkei index closed on Wednesday 0.2 percent higher at 28,562 points, while the Shanghai stock exchange was barely changed at 3621 points.
“The main players on the market, institutional investors, have withdrawn from the market because of Christmas,” said a stockbroker. Therefore, the trading volume is thin. “For the time being, it will be difficult to find a clear direction.”
Price gains from US competitors encouraged investors to invest in Asian technology stocks. Tokyo Electron and Advantest shares rose by up to 1.4 percent in Tokyo, and Samsung and Hynix in Seoul by up to two percent. The shares of the Shinsei Bank even gained six percent. The largest shareholder, SBI, is considering taking the financial institution off the stock exchange.
More: US stock market in positive territory again – Micron and Nike give investors new confidence
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