Asian stocks mixed after Wall St ends 2021 with big gain

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Asian stock markets are on the first trading day of 2022 after Wall Street ended last year with a double-digit gain

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Wall Street’s benchmark S&P 500 index slipped on Friday amid 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 New Year’s optimism will be reflected in financial markets,” Mizuho Bank’s Venkateshwaran Levanya said in a report.

The Hang Seng in Hong Kong ended 0.3% lower at 23,332.13, while Seoul’s Kospi rose 0.3% to 2,987.29.

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

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

On Friday, the S&P 500 was down 0.3% at 4,766.18. The Dow Jones Industrial Average fell 0.2% to end at 36,338.30. The Nasdaq fell 0.6% to end at 15,644.97.

In energy markets, benchmark US crude rose 40 cents to $75.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.78 to $75.21 on Friday. Brent crude, the price base of international oils, rose 35 cents to $78.13 a barrel in London. In the previous session, it fell by $ 1.75 to $ 77.78 per barrel.

The dollar rose to 115.28 yen from Friday’s 115.09 yen. The euro declined from $1.1383 to $1.1344.

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