In Asian Equity Markets Japanese stocks rose on Wednesday as investors grew hopeful that the Omicron coronavirus variant may be less disruptive for the global economy than initially feared. The Nikkei share average was up 1.11 percent at 28,771.81 while the broader Topix added 0.61 percent to 2,001.85, both reaching their highest level since Nov. 26. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent to its highest level since Nov. 26, when news about the new variant roiled markets. Gains were broad-based with Korea’s KOSPI touching a six-week-high.

In Currency Markets the dollar was down on Wednesday morning in Asia, while the Australian dollar hit a one-week high. Investors’ risk appetite increased over indications that the omicron COVID-19 variant is less severe, even though existing vaccines cannot afford full protection. The U.S. Dollar Index was down 0.23 percent to 96.150. Against the Japanese yen, the dollar inched down 0.04 percent to 113.52. The Aussie dollar was up 0.27 percent to $0.7137 and the kiwi inched up 0.10 percent to $0.6795. Sterling edged up 0.12 percent to $1.3257.

In US Equity Markets main indexes finished Tuesday’s session with strong gains as investors shook off some anxiety about the latest coronavirus variant and investors boosted Nasdaq by piling into technology stocks. The Dow rose 1.4 percent, to 35,719.43, the S&P 500 gained 2.07 percent, to 4,686.75 and the Nasdaq Composite added 3.03 percent, to 15,686.92. In the semiconductor industry, other big gainers besides Intel were Nvidia, which added 7.96 percent, while NXP Semiconductor and Applied Materials both advanced 6.5 percent.

In Commodities Markets oil prices climbed by more than 3 percent on Tuesday, extending the previous day’s rebound of almost 5 percent as concerns eased further about the impact on global fuel demand of the Omicron coronavirus variant. Brent crude futures settled up 3.2 percent, at $75.44 a barrel, after Monday’s rise of 4.6 percent. U.S. WTI crude rose 3.7 percent, to $72.05, building on a 4.9 percent gain the previous session. Spot gold was up 0.2 percent to $1,782.39 per ounce. Platinum gained 1.7 percent to $953.06 an ounce, palladium added 0.5 percent to $1,845.45 and silver rose 0.6 percent to $22.49.

In European Equity Markets stocks rose 2.5 percent on Tuesday, boosted by a strong rebound in technology shares as worries somewhat eased over the Omicron coronavirus variant, while German shares surged close to 3 percent led by automakers. The continent-wide STOXX 600 index logged its best session since last November, bouncing back to levels before worries emerged about the new virus variant. Among individual stocks, British American Tobacco gained 1.0 percent after backing its full-year forecast, buoyed by more people switching to the tobacco giant’s vaping and oral nicotine products.

In Bond Markets the benchmark U.S. 10-year Treasury yield rose for a second consecutive day on Tuesday as concerns over the newly discovered Omicron COVID-19 variant continued to wane and boosted risk appetite. The yield on 10-year Treasury notes was up 4.8 basis points to 1.482 percent. The yield on the 30-year Treasury bond was up 4.4 basis points at 1.802 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 5.4 basis points at 0.689 percent.