Friday, December 9, 2022

Coronavirus, Hong Kong and Singapore travel stocks


SINGAPORE — Stocks in Australia rose in early trading on Monday as lockdown restrictions were eased in the state of Victoria.

The S&P/ASX 200 rose about 0.4% as shares of major miners Rio Tinto and Fortescue jumped 1.43% and 3.3%, respectively.

Investors will monitor shares of airlines in Hong Kong and Singapore, including Cathay Pacific and Singapore Airlines, after an anticipated air travel bubble between the two cities was delayed. That came as Hong Kong has seen a recent increase in coronavirus cases.

Markets in Japan are closed on Monday for a holiday.

Developments surrounding the coronavirus will likely continue to weigh on investor sentiment. South Korea is set to impose stricter distancing regulations for the greater Seoul area and southwestern region in an attempt to stem a resurgence of the coronavirus, according to Yonhap. Meanwhile, the U.S. recently reported nearly 200,000 new virus cases less than a week before Thanksgiving.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.372 following a recent decline from levels above 92.6.

The Japanese yen traded at 103.83 per dollar after strengthening from levels above 104.4 against the greenback last week. The Australian dollar changed hands at $0.7306 after turbulent trading last week that saw it above $0.732 and below $0.729.

Here’s a look at what’s on tap:

  • Singapore: Consumer Price Index for October at 1:00 p.m. HK/SIN

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