Asia shares slip as investors weigh omicron economic risks
ABC News
Asian shares have fallen, with South Korea's benchmark down 2.4%, as investors cautiously weigh how much damage the new omicron coronavirus variant may unleash on the global economy
TOKYO -- Asian shares mostly slipped Tuesday as investors cautiously weighed how much damage the new omicron coronavirus variant may unleash on the global economy.
South Korea’s Kospi led regional losses with a 2.4% drop, to 2,839.01.
Japan's benchmark Nikkei 225 lost earlier gains and dropped 1.6% to 27,821.76, as pessimism over the omicron variant set in. Australia's S&P/ASX 200 gained 0.2% to 7,256.00. Hong Kong's Hang Seng dipped 1.7% to 23, 439.91, while the Shanghai Composite was nearly flat at 3,563.89.
The yield on the 10-year Treasury slipped back to 1.46% from 1.51% late Monday. It tends to rise and fall with expectations for the U.S. economy’s strength and for inflation.
