Asian shares were mixed Tuesday, as worries in the region about the coronavirus omicron variant tempered market optimism set off by a rally on Wall Street.
Japan’s benchmark Nikkei 225 NIK, +1.77% jumped 1.7% in morning trading as markets reopened after the New Year holidays. Among the gainers were Toyota Motor Corp. 7203, +6.08%, Sony Corp. 6758, +3.52% and SoftBank Group Corp. 9984, +1.07%.
Coronavirus infections and deaths have been fewer in Asia than in the U.S. and parts of Europe. But worries are growing about an inevitable surge with reported detections of faster spreading omicron. Wall Street got 2022 off to a solid start with more record highs for the S&P 500 and the Dow Jones Industrial Average. The S&P 500 SPX, +0.64% rose 0.6% to 4,796.56 and the Dow DJIA, +0.68% finished 0.7% higher, at 36,585.06. Both indexes eclipsed the record highs they set last Wednesday. The Nasdaq composite COMP, +1.20% rose 1.2% to 15,832.80.
The S&P 500’s latest milestones, following up on the 70 record highs it posted last year, are a sign investors remain bullish about stocks, despite the recent spike in COVID-19 cases from virus’ fast-spreading omicron variant and expectations that the Federal Reserve will begin pushing up interest rates sometime this year to fight rising inflation.
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