Regional markets tumble amid global rout, Omicron fears

REGIONAL markets fell into negative territory on Monday (Dec 20), extending weekend losses from the global markets as Omicron fears and the tightening of borders weighed on investors.

Nearly all the Asia indices, save for New Zealand, were in the red during Monday's trading session. US futures were also falling after US Senator Joe Manchin said he would not support President Joe Biden's US$1.75 trillion domestic investment bill.

As at Dec 20, futures on the S&P 500, Nasdaq and Dow Jones Industrial Average each fell 1.6 per cent.

In South-east Asia, Singapore's STI lost as much as 1.3 per cent, before closing 1.2 per cent lower on Monday, dragged by banking stocks and Jardine-related counters.

DBS lost as much as 1.2 per cent before closing 0.9 per cent lower; UOB dropped as much as 1.5 per cent before closing 1.2 per cent lower; while OCBC fell as much as 1.7 per cent before closing 1.5 per cent lower.

Jardine Matheson Holdings, Jardine Cycle and Carriage, Hongkong Land and Dairy Farm were down 1.4 per cent, 2 per cent, 2.5 per cent and 4 per cent respectively.

Exceptions in the sea of red included glove and personal protective equipment makers. Top Glove closed 1.4 per cent higher, UGHealthcare rose 6.3 per cent, while Medtecs International gained 5.8 per cent.

Regionally, Malaysia slid as much as 0.7 per cent, while Indonesia dropped as much as 1 per cent. MSCI's index of Asia-Pacific shares outside Japan fell 1.8 per cent to its lowest in a year, while Japan's Nikkei ended 2.1 per cent lower.

Wall Street and Europe ended Friday weaker. The Netherlands went into lockdown on Sunday and Europe's biggest countries including Germany, Denmark and France are also weighing further curbs.

READ MORE:

• Asia: Markets drop on Omicron spike, Biden spending bill blow
• Netherlands locks down as Omicron spreads 'at lightning speed' in Europe