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Asian stocks slip after U.S. drop; oil holds climb
Dec. 29, 2021

Asian stocks slip after U.S. drop; oil holds climb

Most Asian stocks dipped Wednesday after a technology selloff weighed on U.S. equities and as investors assessed the omicron virus-strain outbreak. Shares slipped in Japan, technology stocks retreated in Hong Kong and China edged down. U.S. futures fluctuated after the S&P 500 and the Nasdaq 100 weakened Tuesday, snapping four sessions of gains. Volumes remained thin into the end of the year in some markets. Sentiment in China is being sapped by Beijing’s tightening oversight of overseas share sales and economic risks from a property slowdown. Authorities are expected to add stimulus next year to steady expansion. Treasury yields fell and a dollar gauge inched higher. Crude oil held around a one-month high partly on bets that the global recovery will ride out omicron. Bitcoin was around $48,000 after a tumble that hinted at diminished ardor for the most speculative assets.

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