Most markets Asian stocks 20, following a volatile week, as recession fears increased despite hopes that China’s reopening would help boost the global economy.
While inflation in the US has led to speculation that the US Federal Reserve (Fed) will slow down the rate hike further, some top officials at the bank have warned that more efforts are needed before inflation is under control.
Fed Vice Chairman Lael Brainard said on January 19 that policymakers are still in the process of raising interest rates for some time.
New York Fed President John Williams believes interest rates will continue to rise to bring inflation back to the 2% target, from 6.5% currently.
Meanwhile, a flurry of weak data showing a continued slowdown in the US economy has worried traders.
However, investors in Asia are more optimistic regarding the hope that China will reopen following three years of blockade to control the epidemic.
As China is the world’s largest export market for most of the region’s economies, China’s opening has had positive effects, said Stephen Innes, an analyst at SPI Asset Management.
[Thị trường chứng khoán châu Á đa phần đi lên trong chiều 18/1]
closing session, Hang Seng Index of Hong Kong rose 1.82%, or 393.67 points, to 22,044.65 points, the highest level since July 2022. Shanghai’s Shanghai Composite Index rose 0.76%, or 24.53 points, to 3,264.81.
Japan’s Nikkei 225 index rose 0.56 points, or 148.3 points, to 26,553.53 points.
In the domestic market, at the end of January 19 (the last trading session of the year of the Tiger), the VN-Index increased by 9.8 points to 1,108.08 points. HNX-Index increased 2.14 points to 219.87 points.
Thuy (VNA/Vietnam+)
