Stocks in Asia-Pacific Fell Due to Covid and Inflation

It was not an easy day for stocks as they fell on Friday as investors analyzed risks associated with the new omicron variant of Covid-19. Investors are also waiting for the inflation data.

In Japan, the Nikkei 225 dropped 1% to end its trading day at 28,437.77. The Topix index declined 0.77% to close at 1,975.48.

South Korea’s Kospi dropped 0.64% to 3,010.23. The Kosdaq declined 1.1% to finish its trading day at 1,011.57.

In Australia, the ASX 200 fell 0.42% to 7,353.50, with the energy subindex dropping 1.49% as global oil prices struggled for gains.

Shares of Santos declined 2.11% and Oil Search fell 2.42%. Shares of Woodside Petroleum dropped 0.72%.

The current CEO of Fortescue Metal Group Elizabeth Gaines will leave her post once her successor is found as the company shifts to become a diversified renewable energy as well as resources player. The company’s shares declined 0.82%.

Mainland Chinese stocks

Mainland Chinese stocks fell on Friday. The Shanghai composite dropped 0.18% to end its trading day at 3,666.35. The Shenzhen component fell 0.24% to 15,111.56.

In Hong Kong, the Hang Seng index dropped 1.07 to 23,995.72. 

Furthermore, benchmark indexes India and Singapore traded lower in the afternoon. 

U.S. stocks on Thursday

Interestingly, the Dow Jones Industrial Average ended its trading day at 35,754.69, losing less than a point on Thursday. Meanwhile, the S&P 500 dropped 0.72% to 4,667.45. The Nasdaq Composite fell 1.7% to 15,517.37. Nonetheless, all of them are still on track for a winning streak.

Let’s have a look at travel-related stocks. Shares of Carnival as well as Norwegian Cruise Line fell about 1.6%. Shares of United Airlines dropped 1.7%. Travel booking stocks also declined. Expedia and Booking Holdings fell 1.5% and 1.7%, respectively. Last but not least, the Invesco Dynamic Leisure & Entertainment ETF fell 1.2%.