In Asian Equity Markets stocks were gaining ground on Wednesday as the risk appetite of global investors rises heading into year-end, despite the surging number of Omicron variant cases around the world. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6 percent, after U.S. stocks ended the previous session with gains. Australian shares were down 0.1 percent. Japan’s Nikkei stock index was 0.1 percent higher. Hong Kong’s Hang Seng Index jumped 1.2 percent and China’s blue-chip CSI 300 Index was 0.23 percent up in eary trade.

In Currency Markets the dollar edged down again in early Asia on Wednesday, starting a third successive session under pressure as investors favoured riskier currencies and asset classes. The dollar index, which measures the currency against major peers, was last at 96.441 down from as high as 96.994 last week when it was testing a 16 month high. The euro was last at $1.1289 starting Wednesday up marginally, which would be its third successive session of gains. The dollar rose 0.44 percent on the safe haven yen. The pound gained 0.46 percent – its best day in a month – last trading at $1.3267.

In US Equity Markets main indexes rose on Tuesday, with strength in travel and tech shares as well as in Nike and Micron Technology following their earnings, as stocks rebounded from a coronavirus-fueled rout the session before. The S&P 500 gained 1.78 percent, to end at 4,649.11 points, while the Nasdaq Composite gained 2.40 percent, to 15,341.19. The Dow rose 1.59 percent, to 35,488.68. Nike shares rose after the sports apparel company’s results beat quarterly estimates for profit and revenue, and it said it was more confident that supply chain issues would ease in its next fiscal year.

In Commodities Markets oil prices settled more than 3 percent higher on Tuesday, rebounding on renewed risk appetite the day after a sharp fall, but investors remained cautious as the Omicron coronavirus variant cut holiday travel plans, dimming the near-term fuel demand outlook. Brent crude settled up 3.4 percent, at $73.98 a barrel, and U.S. WTI crude rose 3.7 percent, to $71.12 a barrel. Spot gold was down 0.2 percent at $1,786.50 per ounce. Spot silver rose 1.2 percent to $22.50 per ounce and palladium advanced 2.6 percent to $1,794.86, while platinum steadied at $932.00.

In European Equity Markets stocks ended higher on Tuesday, recovering Monday’s losses, with a jump in commodity-linked and travel stocks offsetting concerns about the spread of the Omicron coronavirus variant. The pan-European STOXX 600 added 1.4 percent, with miners and oil stocks among the biggest winners amid higher copper and crude prices. Travel shares also gained. London’s FTSE 100 rose 1.4 percent on strong gains in energy firms Royal Dutch Shell and BP and miners Rio Tinto and BHP Group. Sanofi gained 0.9 percent after announcing it would buy Amunix Pharmaceuticals for about $1 billion.

In Bond Markets the U.S. Treasury yield curve steepened on Tuesday as traders focused on optimistic economic conditions despite the rapidly spreading Omicron variant of the coronavirus. The moves marked a reversal of sentiment from Monday, when the yield on the benchmark 10-year note reached as low as 1.353 percent, the least since Dec. 3. In Tuesday morning trading the note was up 5.1 basis points at 1.4703 percent. The two-year Treasury yield, which typically moves in step with interest rate expectations, was up 2.8 basis points at 0.6583 percent.