Asian markets calm as new year begins with limited trading

BEIJING – Asian stock markets were mixed on Monday the first trading day of 2022 after Wall Street ended last year with a double-digit gain.

The Hang Seng HSI,
in Hong Kong lost 0.6% while Seoul’s Kospi 180721,
+ 0.33%
increased by 0.2%.

Singapore STI benchmarks,
+ 0.25%,
Jakarta JAKIDX,
+ 0.84%
and Malaysia FBMKLCI,
Advanced. Markets in Japan, mainland China and Australia were closed for holidays.

Also on Monday, Singapore’s government announced that its economy grew 7.2% last year, rebounding from the 5.4% contraction the year before.

Friday, the S&P 500 SPX,
slipped 0.3% to 4,766.18. The Dow Jones Industrial Average DJIA,
slipped 0.2% to 36,338.30. The Nasdaq COMP,
fell 0.6% to 15,644.97.

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

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

On the energy markets, the American benchmark CLG22 crude,
+ 0.85%
rose 40 cents to $ 75.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell from $ 1.78 on Friday to $ 75.21. Brent crude BRNH22,
+ 0.81%,
the basis of international oil prices, gained 35 cents to $ 78.13 a barrel in London. It lost $ 1.75 the previous session to $ 77.78 a barrel.

The dollar USDJPY,
+ 0.21%
advanced to 115.28 yen from 115.09 yen on Friday.

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