World shares extended their positive start to 2022 with markets from Europe to Asia shrugging off worries the Omicron coronavirus variant could choke the global economic recovery, while the dollar rose after U.S. bond yields jumped.
Global manufacturing activity remained strong in December as factories took rising cases of the new Omicron coronavirus variant in their stride, although persistent supply constraints and rising costs clouded the outlook for some economies.
China Evergrande Group’s shares soared briefly in resumed trade after the developer said a government order to demolish 39 buildings on the resort island of Hainan would not affect the rest of its massive project there. Investors in financial products issued by Evergrande protested outside the cash-strapped company’s offices in Guangzhou, with many worried that their returns would be sacrificed to keep real estate projects afloat.
Japanese automaker Toyota is poised to outsell General Motors in the United States in 2021, which would mark the first time the Detroit automaker has not led U.S. auto sales since 1931.
Tesla’s announcement that it has opened a showroom in Xinjiang has attracted criticism from U.S. rights and trade groups, making it the latest foreign firm caught up in tensions related to the far-western Chinese region.