Weibo listing in Hong Kong, oil and currencies


SINGAPORE — Stocks in Japan have been set to rise, as Wall Street continued rebounding from the current omicron-induced drop, with tech shares in relief-rally mode.

Japan’s Nikkei futures contract in Chicago was at 28,780 whereas its counterpart in Osaka was at 28,830. That in contrast in opposition to the Nikkei 225’s final shut at 28,455.60.

Japan is because of report its third-quarter GDP on Wednesday.

Australia’s S&P/ASX 200 bounced 0.7% in early commerce.

In Hong Kong, Chinese social media big Weibo is about to make its market debut on Wednesday, in what can be its secondary listing at a proposal worth of $272.80 Hong Kong dollars ($34.98) per share. Its predominant listing is on the Nasdaq. This comes as Chinese ride-hailing big Didi says it should begin delisting from the New York Stock Exchange, and make plans to listing in Hong Kong as a substitute.

Weibo’s Nasdaq-listed inventory has plummeted greater than 10% in the previous week.

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Stocks stateside continued to rebound from the current drop, as traders grew much less afraid of the potential financial influence from the brand new omicron coronavirus variant.

The Dow Jones Industrial Average rose 492.40 factors, or 1.4%, to 35,719.43. The S&P 500 added 2.07% to 4,686.75 and sat about 1% away from its all-time excessive. The Nasdaq Composite led the market rally, leaping 3% to fifteen,686.92. It was one of the best day since March 1 for the S&P 500, and one of the best day since March 9 for the Nasdaq.

Tech shares recovered as traders shook off Covid fears and purchased the current dip, pulling the Nasdaq increased.

Still, traders will proceed to keep watch over omicron Covid developments, with the U.S. CDC saying Tuesday that the brand new variant has now been discovered in 50 nations and 19 states throughout the U.S.

Currencies

The U.S. dollar index, which tracks the dollar in opposition to a basket of its friends, was little modified at 96.296.

The Japanese yen traded at 113.51 per greenback, because it continued to weaken. The Australian dollar was at $0.7118, persevering with its ascent for the reason that previous week.