Asian Markets Mostly Lower On China Inflation Data
CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Friday, despite the positive cues overnight from Wall Street, as data emerging from China showed higher than expected inflation. The markets are also cautious amid the continuing surge in coronavirus cases in the region and the possible restrictions on economic activity in several markets. Asian markets ended mostly higher on Thursday.
However, the prospects of a global economic recovery following the U.S. Federal Reserve s repeated assurances that monetary policy will likely remain unchanged for the foreseeable future is limiting the downside. Federal Reserve Chair Jerome Powell also said at Thursday s IMF Spring Meeting that the US economy is headed toward a strong recovery, aided by quickening vaccinations.
Japanese Market Higher
TOKYO (dpa-AFX) - The Japanese stock market is higher on Friday, with the benchmark Nikkei 225 breaking above the 30,000 mark earlier, following positive cues overnight from Wall Street. Traders are also upbeat on a global economic recovery following the U.S. Federal Reserve s repeated assurances that monetary policy will likely remain unchanged for the foreseeable future.
However, traders remain concerned about a spike in daily domestic coronavirus infections and possible restrictions on economic activity.
The benchmark Nikkei 225 Index is gaining 88.90 points or 0.30 percent to 29,797.88, after touching a high of 30,064.35 in early trades. Japanese shares closed slightly lower on Thursday.
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