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The week got off to a quiet start in Asia. This morning, the People’s Bank of China set the yuan’s exchange rate against the US dollar at 6.3702 yuan per dollar.
Japan’s Nikkei closed lower on Monday, dragged down by a sharp drop in SoftBank Group shares, but optimism about the limited impact of the mutated Omicron strain of the coronavirus on the economy helped the index recoup part of its early losses.
The Nikkei closed down by 0.36 percent, recording 2,7927.37 points, after falling 1.19 percent earlier in the session.
The broader Topix index fell 0.53 percent to 1947.54 points.
The Nikkei fell, affected by the 8.2 percent drop in SoftBank Group, which has lost half its value since hitting its highest level this year in mid-March due to concerns about the portfolio of assets it has invested in.
Bitcoin hovered near the $49,000 level on Monday, down 1.5 percent on the day, as traders took losses after a grueling weekend when the price of the world’s largest digital asset at one point lost more than a fifth of its value.
