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A woman walks past in front of an electric monitor displaying stock Indexes in Shanghai, China, October 14, 2022. /CFP
Asian equities soared Friday to extend a surge on Wall Street with MSCI's broadest index of Asia-Pacific shares outside Japan advancing 2.2 percent.
Tokyo stocks jumped more than 3 percent, enjoying the best day since March, while the benchmark index in Seoul added more than 2 percent.
Chinese bluechips rose 2 percent, marking the biggest gain since August, after the country's central bank governor promised stronger support to the real economy. The Hang Seng Index gained 1.21 percent while the Shanghai Composite Index climbed 1.84 percent by market close.
The much anticipated U.S. data overnight showed core inflation – which excludes food and fuel prices – came in above forecasts at 6.6 percent, the biggest annual increase in 40 years, driven by large price gains in the services sector.
U.S. stocks surged to close more than 2 percent higher on Thursday, as technical support and investors covering short bets drove a dramatic rebound from a selloff earlier in the day.
Global markets have been extremely volatile recently as investors worry rising interest rates could push major economies into recession before taming inflation, while there are concerns that a strong U.S. dollar, buoyed by aggressive Federal Reserve tightening, could wreak havoc in emerging markets.
(With input from AFP, Reuters)
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Disinformation report hotline: 010-85061466