Markets mostly rose in Asia, following another rally on Wall Street fueled by optimism over the world economy as inflation slows and China reopens to the world. | AFP
And HSBC’s Frederic Neumann said China’s emergence from almost three years of strict virus containment measures would likely boost the global economy.
Expectations the Fed will hike rates by just a quarter-point at its next meeting have pushed the greenback down against other major peers, including the pound and euro, though it edged up slightly Monday.Last week’s data showing US inflation at its lowest since October 2021 has boosted equities and lowered bets on a recession in the world’s top economy.
And there is growing optimism that the worst-case scenario of a so-called hard landing for the economy — caused by soaring borrowing costs — will not happen.
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