Asian stocks rallied on Thursday as Wall Street gains in the wake of the Federal Reserve’s decision to speed up the withdrawal of stimulus measures to tackle the inflation rally.
The US Federal Reserve announced yesterday that it may raise interest rates three times next year to meet the jump in prices, while it will shrink monthly bond purchases at twice the rate it had previously announced in order to end the year. program until March 2022.
US market indicators regained the positive sign after the Fed announcements to end trading with strong gains at the highs of the day.
The positive climate passes today in the Asian stock markets with the Japanese Nikkei 225 index jumping 2.1% to 29,066.32 points.
In Hong Kong Hang Seng gained small gains of 0.1%, while in mainland China the Shanghai Composite gained 0.75%.
South Korea’s Kospi rose 0.6%, while in Australia the S & P / ASX 200 lost 0.4%. Indices in India and Taiwan are also moving upwards.
Tensions in US-China relations, however, continue to worry investors. The US House of Representatives passed a resolution yesterday banning imports from China’s Xinjiang region amid concerns about forced labor practices and other violations.
At the same time, the US government is reportedly considering imposing sanctions that will prevent companies from having equipment at China’s largest chip company SMIC. Shares of the Chinese company in Hong Kong fell 2.9% today, while in the last six months they have lost more than 20%.
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