Asian markets extend rally
Asian markets rose on Monday as investors rediscovered some verve after the release of healthy US data and as China eases some of its strict Covid curbs in Shanghai and Beijing, lifting hopes for the world’s number two economy. The gains extended a positive end to last week for global equities with some commentators saying there was a growing hope that the months-long sell-off may have run its course. Wall Street provided a strong lead and snapped a series of weekly losses, with Friday’s rally supported by data showing an easing of the key personal consumption expenditures (PCE) price index. Markets have been pummelled this year as soaring prices forced central banks to hike interest rates and warn of more to come.
Published in The Express Tribune, May 31st, 2022.
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