Asian shares edge higher after slight gains on Wall Street
Shares have climbed in Asia after Wall Street benchmarks clawed back some losses from their worst week since early December
BANGKOK (AP) — Shares climbed in Asia on Tuesday after Wall Street benchmarks clawed back some losses from their worst week since early December.
Stocks have come under selling pressure as analysts have raised forecasts for how high the Federal Reserve will take interest rates and how long it will keep them there to tame inflation that has failed to fall as much as expected given strong jobs growth and other signs of resilience in the economy.
Economies around the world have remained more resilient than feared, with China loosening its business-damaging anti-COVID restrictions and Europe avoiding a worst-case energy crisis.
“As we move into ‘Turnaround Tuesday,’ investors are debating whether January’s inflation reflation was just another temporary bump in the road as the economy adjusts to a post-pandemic world,” Stephen Innes of SPI Asset Management said in a report. “The post-pandemic era continues to deliver unusual macroeconomic patterns.”
