Asian Markets Mostly Up As Recovery Optimism Takes Centre Stage
08/04/21 AT 4:24 AM
Asian equities mostly rose Wednesday, in line with the recent volatility in global markets as optimism over the economic recovery and coronavirus vaccinations plays off against concerns about the fast-spreading Delta variant and China s regulatory crackdown.
A forecast-beating corporate earnings season and constant reassurance from the US Federal Reserve over its ultra-loose monetary policies have also been unable to soothe fears that the outlook might not be as rosy as initially hoped, with sentiment changing day by day.
Still, in the morning Wednesday was an up day following a record close for the S&P 500 on Wall Street and helped by some bargain-hunting.
As China s recovery wobbles, economists expect more policy easing Toggle share menu
Advertisement
As China s recovery wobbles, economists expect more policy easing China may need more monetary and fiscal easing to halt an economic slowdown in the wake of torrential rains and flooding, and authorities tough response to outbreaks of the highly-transmissible coronavirus Delta variant, economists say.
FILE PHOTO: Chinese Yuan banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/Illustration/File Photo 2 related media assets (image or videos) available. Click to see the gallery.
04 Aug 2021 03:35PM Share this content
Bookmark
SHANGHAI: China may need more monetary and fiscal easing to halt an economic slowdown in the wake of torrential rains and flooding, and authorities tough response to outbreaks of the highly
China s Delta Outbreak Cuts Travel, Prompting GDP Downgrades | News & Analysis businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
By Syndicated Content
Aug 4, 2021 | 2:33 AM
SHANGHAI (Reuters) â China may need more monetary and fiscal easing to halt an economic slowdown in the wake of torrential rains and flooding, and authoritiesâ tough response to outbreaks of the highly-transmissible coronavirus Delta variant, economists say.
Nomura lowered its China GDP growth forecast on Wednesday to 5.1% in the third quarter and 4.4% in the fourth quarter, from 6.4% and 5.3%, respectively.
It also cut its full-year growth projection to 8.2% from 8.9%, citing the impact of Beijingâs tough stance on COVID control due to the emergence of the coronavirus Delta variant in many major cities.
While calling Chinaâs zero-tolerance approach to containing the virus âincreasingly costlyâ, Lu Ting, chief economist at Nomura, said he expects Beijing to keep policy rates steady this year in favour of a mix of âtargeted tighteningâ and universal easing.
China s Delta Outbreak Curbs Spending, Prompting GDP dailymaverick.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymaverick.co.za Daily Mail and Mail on Sunday newspapers.