EQUITIES
Shares in Asia-Pacific were mostly higher in Thursday trade. Hong Kong shares advanced as the main Hang Seng index added 0.89% while the mainland Shanghai composite rose 1.03%. South Korean shares also advanced, with the benchmark KOSPI up 0.37%, and the Straits Times index in Singapore added 0.28%.
Japan’s Nikkei 225 slipped 0.17%, India’s S&P BSE Sensex edged 0.18% lower, and the Australia’s ASX 200 traded around the flatline.
Overnight, Wall Street’s major averages managing their third straight day while European shares closed lower. The Dow Jones Industrial Average rose 0.1%, to 35,754.75, the S&P 500 gained 0.31%, to 4,701.21 and the Nasdaq Composite added 0.64%, to 15,786.99.
OIL
Oil prices extended gains on Thursday as concerns ease about the impact of Omicron COVID-19 variant, even as some governments stepped up curbs to stop its rapid spread. Gains also helped by the fall in inventories.
Crude inventories fell by 240,000 barrels in the week to Dec 3 to 432.9 million barrels, though less than expectations for a 1.7-million-barrel drop. U.S. gasoline stocks rose by 3.9 million barrels in the week, compared with expectations for a 1.8-million-barrel rise.
The Brent now traded at $76.46 per barrel, and U.S. crude futures traded at $73.09 per barrel.
Overnight, the Brent futures ends at $75.82 a barrel, while the WTI crude oil prices closed to $72.36 per barrel.
CURRENCIES
The benchmark U.S. 10-year Treasury yield rose for a third straight day, climbing above 1.5% for the first time in a week. It last rose 2 basis points to 1.530%.
The U.S. dollar recovered slightly against a basket of its peers — traded to 95.977 from its previous close at 95.984.
Bitcoin was about flat at $49,695, after top executives from six major cryptocurrency companies including Coinbase and Circle urged Congress to provide clearer rules for the booming $3 trillion industry.
GOLD
Gold prices were little changed as investors squared positions before Friday's release of U.S. consumer prices data.
Spot gold rose 0.12% to $1,785.50 per ounce, and U.S. gold futures flat at $1,786.20.
Spot silver stood 0.04% higher to $22.40 per ounce. Platinum slipped 0.26% to $953.40, while palladium rose 0.87% at $1,868.50.
ECONOMIC OUTLOOK
Stocks rose in choppy trade on Thursday as investors became less concerned about the Omicron coronavirus variant. Despite the slight improvement in market sentiments, there is a still a lack of fresh buying to sustain an upward trend as many market players are still cautious and keeping their wait and see stance.
Market gains also were muted as governments reimposed restrictions to limit the spread of Omicron, including Britain ordering people to work from home again, Denmark closing restaurants, bars and schools and China halting group tourist trips from Guangdong.
Traders' focus was turned to the release of inflation data on Friday, as well as U.S. Federal Reserve's final policy meeting of the year next week, at which it could announce an acceleration of tapering of its bond-buying programme.
Shares of China Evergrande Group rose more than 5% on Thursday as hopes of a managed debt restructuring calmed fears. The share hit a record low overnight after a missed debt payment deadline put the developer at risk of becoming the country's biggest defaulter.
Trading in shares of Macau's Suncity Group Holdings Ltd and its unit Summit Ascent Holdings Ltd were suspended on Thursday, days after its chief executive was arrested over alleged links to cross-border gambling.
