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European Shares Seen Up As Omicron Concerns Ease

(RTTNews) - European stocks may open higher on Monday as concerns about the new coronavirus variant Omicron ease.

Early indications of the severity of the Omicron Covid-19 variant are "a bit encouraging," top U.S. pandemic advisor Anthony Fauci said Sunday, adding that it was too early to draw definitive conclusions and more information was still needed.

South Africa reported that Omicron is not leading to higher hospitalization rates despite a jump in active cases.

Asian markets traded mixed, with Hong Kong's Hang Seng index falling more than 1 percent after China's struggling property giant Evergrande warned it risked defaulting on a large financial obligation and sought help from its provincial government.

Having made three 11th-hour coupon payments in the past two months, the company is facing the end of a 30-day grace period today for a $82.5 million payment.

Kaisa Group Holdings is also facing a potential default, while Sunshine 100 China Holdings Ltd. has missed payment on $179 million of debt and interest payments due Sunday.
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