Asian share markets mostly rose on Wednesday but oil and the dollar slipped as rising COVID-19 cases in China raised fears of fresh lockdowns that could slow the reopening of the world’s second-largest economy.
European equities looked set to follow Asia higher, with the pan-region Euro Stoxx 50 futures up 0.33%, Germany’s DAX futures up 0.27% and FTSE futures up 0.16%. U.S. stock futures, the S&P 500 e-minis , slipped 0.07%.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.4%, buoyed by gains in U.S. stocks overnight. The index is up 12% so far this month.
New Zealand’s central bank raised interest rates by 75 basis points – its largest ever move – on Wednesday to a near 14-year high of 4.25% and flagged more hikes are on the way as it struggles to contain stubbornly high inflation.
China on Wednesday reported 29,157 new COVID infections for Nov. 22, compared with 28,127 new cases a day earlier. Case numbers in Beijing and Shanghai are steadily rising, and remain high in several major manufacturing and export hubs, prompting authorities to close some facilities.