Asian stocks follow Wall Street higher as virus fears ease

By JOE McDONALD

BEIJING (AP) — Asia banal markets followed Wall Street higher Tuesday arsenic anxiousness astir the coronavirus’s latest variant eased.

Shanghai, Tokyo and Hong Kong advanced. Oil prices gained for a 2nd day.

Wall Street’s benchmark S&P 500 scale gained 1.2% aft the main White House aesculapian advisor said the omicron variant mightiness beryllium little dangerous. That mightiness let question and concern restrictions to ease.

Reports from South Africa, wherever omicron archetypal was spotted, that hospitals haven’t been overwhelmed “is fueling immoderate optimism” among traders who sold earlier, said Yeap Jun Rong of IG successful a report.

The Nikkei 225 successful Tokyo gained 1.3% to 28,282.01 and Hong Kong’s Hang Seng precocious 1.4% to 23.678.51. The Shanghai Composite Index added little than 0.1% to 3,589.95.

The Kospi successful Seoul precocious little than 0.1% to 2,974.00 and Sydney’s S&P-ASX 200 gained 0.4% to 7,273.10.

New Zealand declined portion Southeast Asian markets gained.

On Wall Street, the S&P 500 roseate to 4,591.67. The Dow Jones Industrial Average roseate 1.9% to 35,227.03. The Nasdaq added little than 0.1% to 15,225.15.

More than 85% of stocks successful the S&P 500 gained, led by exertion and banks.

Airlines, cruise lines and different question companies that basal to summation from avoiding much anti-coronavirus controls precocious aft Dr. Anthony Fauci said aboriginal indications suggested omicron whitethorn beryllium little unsafe than the earlier delta variant.

Norwegian Cruise Line vaulted 9.5% for the biggest summation successful the S&P 500. American Airlines climbed 7.9%, portion United Airlines gained 8.3%.

It volition inactive instrumentality a fewer weeks to larn whether omicron is much contagious, causes much terrible unwellness oregon evades immunity.

Investors besides are factoring mixed U.S. jobs information and the Federal Reserve’s program to accelerate its withdrawal of stimulus to chill ostentation pressures.

The U.S. authorities is owed to study November user ostentation connected Friday.

In vigor markets, benchmark U.S. crude roseate 59 cents to $70.08 per tube successful physics trading connected the New York Mercantile Exchange. The declaration jumped $3.23 connected Monday to $69.49. Brent crude, the terms ground for planetary oils, added 38 cents to $73.46 per tube successful London. It surged $3.20 the erstwhile league to $73.08 per barrel.

The dollar roseate to 113.54 yen from Monday’s 113.49 yen. The euro precocious to $1.1292 from $1.1278.