Asian stock indexes rise for second day in a row
2022.12.13 01:21
Asian stock indexes rise for second day in a row
Budrigannews.com – Although gains were limited as traders awaited key U.S. inflation data and the conclusion of a Federal Reserve meeting for additional cues on monetary policy, the majority of Asian stock markets rose slightly on Tuesday, following a strong overnight lead-in from Wall Street.
As China reversed additional movement restrictions and quarantine measures, regional sentiment was also impacted by uncertainty regarding the rising number of COVID-19 cases there.
Hopes that the Federal Reserve and other major central banks will lessen their hawkish stances to help prevent a possible recession fuel Wall Street bourses.
This idea kind of spread to Asia, where Hong Kong’s and Japan’s GDPs increased by 0.4% and 0.6%, respectively.
This week, Japan is also the focus of attention to see if the recent recovery of the yen and rising commodity prices helped reduce Japan’s enormous import bill.
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India’s and records added 0.2% each, after information on Monday showed that facilitated further in November, probable proclaiming more modest financing cost climbs by the Save Bank.
However, the month’s significantly weaker data than anticipated offset this.
As attention shifted to important U.S. data due later in the day, more general Asian markets recorded modest gains. Markets are wary of a potential upside, particularly in light of Friday’s stronger-than-expected data, despite the fact that it is anticipated that the reading will have decreased from the previous month in November.
The Fed’s Wednesday meeting could be prompted by inflation that is higher than anticipated. However, the Federal Reserve has expressed concern that persistent inflation will cause borrowing costs to peak much higher than anticipated.
This week, key economic readings from the two countries and interest rate hikes by and are also the focus.
China’s bluechip index and the index both fell about 0.2 percent on Tuesday. As markets weigh rising COVID-19 cases against the possibility of further relaxations in anti-COVID measures, local markets are set for more near-term volatility.
