- December 27, 2022
- Posted by: Stratford Team
- Category: Economy
(Bloomberg) — Equities climbed Tuesday while the dollar declined amid positive sentiment from China’s rollback of Covid isolation measures and the cooling of a key inflation gauge in the US.
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Chinese, Japanese and South Korean shares rose, with travel and consumer goods stocks higher in Tokyo and Seoul after China moved to end quarantine for inbound visitors.
Futures contracts for US and European equities also advanced, supported by data on Friday that showed the Federal Reserve’s preferred price index eased while consumer spending stagnated.
US, Asian and global stocks still remain down about 20% this year, which is the worst annual performance since 2008.
More sustained gains in Asian shares from the reopening of China’s economy will depend on how much money Chinese consumers start to spend and how much this flows through into corporate earnings, Han Jiyoung, an analyst at Kiwoom Securities in Seoul, wrote in a…
