· Opportunities for investors to pick up cheap stocks and credit amid omicron uncertainty, UBS says
Mark Andersen, CIO and co-head of asset allocation at UBS Global Wealth Management, gives his view on pockets of opportunity in equity and credit markets amid the omicron pullback.
· Asia stocks bounce from one-year low, China gains on monetary easing
Asian shares staged a recovery on Tuesday on receding worries about the impact of the Omicron variant while Chinese markets were supported by the central bank easing monetary policy.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) advanced 1.3% and was on course for its biggest jump in two months, after declining on Monday to the lowest level in one year.
Euro Stoxx 50 futures rose 0.5% and FTSE futures put on 0.08% in early trade, indicating a firm market open after European stocks ended higher on Monday.
China's CSI300 index (.CSI300) gained 0.6% and Hong Kong's Hang Seng Index (.HSI) advanced 1.7% as the central bank freed up $188 billion in liquidity through a policy easing.
Elsewhere, Australia's S&P/ASX200 (.AXJO) rose 0.95%, while Japan's Nikkei (.N225) advanced 2.1% as risk-on sentiment pushed markets higher.
MSCI's main Asia ex-Japan benchmark has lost about 5% so far this year, with Hong Kong markets figuring among the big losers, while Indian (.BSESN) and Taiwanese stocks (.TWII) outperformed.
Shares in embattled developer Evergrande (3333.HK) edged up 1.7% after hitting a record low on Monday as markets awaited to see if the real estate giant has paid $82.5 million with a 30-day grace period coming to an end.
Elsewhere, markets were supported by gains on Wall Street, where economically sensitive stocks outperformed.
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