A look at the day ahead in Asian markets from Jamie McGeever.
report on Friday was taken by investors as a sign that the Fed might win its anti-inflation battle without doing too much damage to the economy - U.S. and global stocks, risky assets and bonds all soared, which is likely to set the tone in Asia on Monday.A relatively benign U.S. backdrop - economic activity and inflation cooling enough to allow the Fed to end its hiking cycle soon, and maybe even reverse it later this year - is enough to whet investors' risk appetite.
Travelers began streaming into mainland China by air, land and sea on Sunday, as Beijing opened borders that have been all but shut since the start of the COVID-19 pandemic. over a vaccine, and economists at many big banks are revising up their GDP growth forecasts for the second half of this year.The increasing bullishness is being reflected in China's exchange rate. The yuan is its strongest since mid-August, moving further away from the 7.00-per-dollar level.
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