Asian stocks mixed after Wall St ends 2021 with big gain

Beijing: Asian stock markets were mixed Monday on 2022’s first trading day after Wall Street ended last year with a double-digit gain.

Hong Kong retreated while Seoul gained. Markets in Japan, China, and Australia were closed.

Wall Street’s benchmark S&P 500 index slipped Friday amid lingering worries about the coronavirus’s omicron variant but ended 2021 with an annual gain of 26.9 percent.

“It remains to be seen to what extent the optimism of the New Year will be reflected in financial markets,” said Venkateswaran Levanya of Mizuho Bank in a report.

The Hang Seng in Hong Kong lost 0.3 percent to 23,332.13 while Seoul’s Kospi rose 0.3 percent to 2,987.29.

Singapore, Jakarta, and Malaysia advanced. Thai markets were closed.

Also Monday, Singapore’s government announced its economy grew by 7.2 percent last year, rebounding from the previous year’s 5.4 percent contraction.

On Friday, the S&P 500 slipped 0.3 percent to 4,766.18. The Dow Jones Industrial Average slid 0.2 percent to 36,338.30. The Nasdaq fell 0.6 percent to 15,644.97. In energy markets, benchmark US crude rose 40 cents to USD 75.61 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell from USD 1.78 on Friday to USD 75.21.

Brent crude, the price basis for international oils, gained 35 cents to USD 78.13 per barrel in London. It lost USD 1.75 the previous session to USD 77.78 per barrel.

The dollar advanced to 115.28 yen from Friday’s 115.09 yen. The euro declined to USD 1.1344 from USD 1.1383.