China's manufacturing activity shrank into contracting to a 7-month low, stung by zero-covid policy and rising infections. Asian markets rallied as traders welcomed easing restrictions in the wake of rare protests across the country.
Following Jerome Powell’s comments indicating that the Fed would move to rein in inflation while avoiding much-feared drastic steps this year, tech stocks jumped, thus boosting several key Indices.
Asian markets had a mixed start to the week. Chinese government policy, COVID-19, and rising inflation are among the factors that may be impeding growth in share prices.
As trading opened on Monday morning, Asian indices were in the green despite spreading COVID-19 infections and the continuing global chip shortage.
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