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Asian stocks firm after Wall Street rout, but Omicron risks loom

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Asian shares advanced on Tuesday, shrugging off a bruising Wall Street session, as Chinese markets cheered Beijing's move to help troubled property firms, although surging cases of the Omicron coronavirus variant remain a worry for investors.

U.S. stock indexes retreated more than 1% as positive COVID-19 case counts rose and President Joe Biden's social spending and climate bill hit a significant setback.

The negative mood brightened somewhat in Asian hours with European and U.S. stock futures up and some assets battered in Monday's selling finding buyers, although volumes were thin heading into year-end holidays.European markets appeared set for a higher open with the pan-region Euro Stoxx 50 futures up 1.1%. German DAX futures rose 0.93% while London's FTSE futures added 1.02%. U.S. stock futures, the S&P 500 e-minis , were up 0.72%.climbed 0.

 

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