Asian shares mostly slipped Thursday as optimism over earnings was tempered by persistent concerns about inflation and the Chinese economy, despite an...
TOKYO — Asian shares were mixed Thursday as optimism over earnings was tempered by persistent concerns about inflation and the Chinese economy, despite an overnight rally on Wall Street.
Eyes were on the Bank of Japan, which wrapped up a two-day policy meeting, and made no major changes. A mid-week rally driven by strong corporate earnings appeared to be losing steam, laden by worries over energy supplies in Europe and slowing growth in China. Wall Street ended Wednesday with gains as investors welcomed another batch of encouraging profit reports from U.S. companies.
Profit reporting season is ramping up, with more types of industries offering details about how high inflation and worries about a possible recession are affecting their customers. Such increases to rates make borrowing more expensive, which slows the economy. The hope is that the Federal Reserve and other central banks can deftly find the middle ground where the economy slows enough to whip inflation but not enough to cause a recession.
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