Global stocks back in renewed fears about Omicron

Bangkok: Major world share benchmarks were mixed at the outset of the last trading week of the year as countries grappled with the spread of the Omicron coronavirus variant.

Benchmarks were flat early Monday in Paris and Frankfurt and fell in Shanghai, Bangkok, Tokyo and Seoul. Taiwan and India were higher. London and some other markets were closed for holidays. Comments by China's central bank, or People's Bank of China, over the weekend about support for the slowing economy highlighted differences in stances among countries trying to balance support for economic recoveries from the pandemic with measures to keep inflation in check. The Federal Reserve is among a handful of central banks that have already begun cutting interest rates or otherwise cutting back on the extra support they provided when the pandemic first slammed world economies in early 2020.

"The divergences in global monetary policy are set for a sharper turn heading into the new year, especially after the PBOC's announcement that it will remain proactive' in its use of monetary policy tools," Mizuho Bank said in a commentary.

"With Omicron cases rising across China, pushing regions into lock downs and tighter social restrictions, a case for additional growth support is increasingly clearer," it said. Germany's DAX edged up 0.1% to 15,764.98 and the CAC 40 in Paris slipped 0.1% to 7,083.67. London was closed for holidays. The future for the S&P 500 edged 0.1% higher 4,721.50. The future for the Dow industrials was nearly unchanged at 35,826.00.

In Asian trading, the Shanghai Composite index edged 0.2% lower to 3,615.97, while Thailand's SET edged less than 0.1% higher.