Asian stock markets were mixed, as many markets are still closed and trading is light on Investing.com

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Gina Lee

Investing.com-Asia-Pacific stock markets were mixed on Monday morning, with some markets being lightly traded on the first trading day of 2022.

As of 9:58 pm Eastern Time (2:58 am GMT), the South Korean stock market was up 0.37%. Data released earlier in the day showed that the index for December was 51.9, which was higher than the previous month’s 50.9.

The Hong Kong stock market fell 0.28%, while markets in China, Australia and Japan were closed for holidays. There will be no cash transactions in U.S. Treasuries in Asia on Monday.

Jun Rong Yeap, market strategist at IG Asia, stated that traders “may try to use Santa’s rebound to bring a positive start to the first trading day of 2022.”

“While the rising omicron COVID spread may require a cautious approach to reopening, some expectations may be that improved vaccination will help limit the ultimate economic impact.”

According to data from Johns Hopkins University, the epidemic caused by Omicron continues from China to the United States. As of January 3, the number of global cases exceeded 290 million.

Investors pay attention to China Evergrande Group (HK:), whose Hong Kong stocks were suspended earlier in the day. The debt-laden real estate developer did not provide a reason for the suspension.

However, Chinese real estate developer Cifi Holdings has offered to buy 5.5% of China Evergrande’s outstanding bonds due in 2022. According to a statement issued by Cifi Holdings to the Hong Kong Stock Exchange, the bid is US$1,000.5 for every US$1,000 in principal plus accrued and unpaid interest. An offer to buy US$505.1 million in notes due at 4pm London time on January 7 .

Investors are also waiting for the China Caixin and Purchasing Managers Index to be announced later this week.

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