Wall Street continued to rebound from the recent omicron-induced drop, with tech shares in relief-rally mode.
The Topix climbed 0.67% in early trade, while the Nikkei 225 bounced 1%. The revised government data showed that Japan's economy shrank 3.6% in the third quarter, worse than the initial estimate of a 3.0% contraction.
The Kospi in South Korea jumped 1.21%. The S&P/ASX 200 bounced in Australia.
The broadest index of Asia-Pacific shares outside Japan rose 0.22%.
The Chinese social media giant is set to make its market debut in Hong Kong on Wednesday at an offer price of $272.80 Hong Kong dollars. The main listing is on the stock exchange. Didi says it will delist from the New York Stock Exchange and move to Hong Kong.
The stock of Weibo has plummeted in the past week.
The recent drop in stocks was not as bad as investors feared, as they grew less fearful of the economic impact from the new omicron coronaviruses variant.
The index rose 499.40 points, or 1.4%, to 35,719.43. The S&P 500 is about 1% away from its all-time high. The market rally was led by the Nasdaq. It was the best day for the S&P 500 since March 1 and the best day for the Nasdaq since March 9.
Markets are more optimistic that Omicron will not impede the global economic recovery. The pledges from China to support economic growth helped alleviate some of the fears, according to Brian Martin and Daniel Hynes.
The People's Bank of China said it will reduce bank reserve requirements. The reserve requirement ratio, or the amount of cash that banks must hold as reserves, will be cut for the second time this year.
The U.S. CDC said Tuesday that the new variant has been found in 50 countries and 19 states.
TICKER.
The company is
Name.
The price.
Change.
%CHANGE
.N225
The index is called the Nikkei 225.
*NIKKEI.
28790.97
335.37 is a figure.
1.18
.
The Hang Seng Index is a measure of the stock market.
*HSI.
23983.66 is the number.
0
0
.AXJO.
The S&P/ASX 200 is a benchmark.
*ASX 200
7394.3
50.4
0.69
SSEC.
The city of Shanghai.
SHANGHAI.
3595.09
0
0
.KS11
The index is called the koSPI.
*KOSPI.
There is a new version of the word "3010.02."
38.6
1.28
FNBCTFCA.
CNBC 100 ASIA.
CNBC 100.
10044.63
43.6
0.44
After spiking for most of the week, oil prices fell back a little during Asia hours. The price of U.S. crude was $71.68 per barrel.
The dollar index, which tracks the greenback against a basket of its peers, was little changed at 96.369, climbing from levels around 96.2 earlier.
The Japanese currency continued to weaken as it traded at 113.37 per dollar. The Australian dollar has risen since the past week.
