Asian Stock Market: Traces recovery in S&P500 futures, oil struggles around $80.00

risk appetiteAt the press time, Shanghai gained 0.55%, Hang Seng jumped 1.66%, and Nifty50 remained flat. Japanese markets are closed on account of the Market Holiday.

Caution in the Chinese market still persists as the epidemic situation has gone beyond the control of medical authorities. Analysts at Capital Economics have warned that "China is entering the most dangerous weeks of the pandemic". The Covid-19 situation in China is expected to get vulnerable further as infections get accelerated while celebrations of the Lunar New Year. has refreshed its day’s low at 103.15 after failing to capitalize on the firmer opening move.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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